Using the Graph Shown, Answer the Following Questions

question 370

Essay

Using the graph shown, answer the following questions.
a.What was the equilibrium price in this market before the tax?
b.What is the amount of the tax?
c.How much of the tax will the buyers pay?
d.How much of the tax will the sellers pay?
e.How much will the buyer pay for the product after the tax is imposed?
f. How much will the seller receive after the tax is imposed?
g. As a result of the tax, what has happened to the level of market activity?

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Definitions:

Blaxploitation Films

A genre of American film of the 1970s aimed at an African American audience, featuring African American actors in lead roles and often dealing with urban and racial challenges.

Sweet Sweetback's Baadasssss Song

A 1971 film directed by Melvin Van Peebles, considered a pioneering work in the genre of African-American cinema known as Blaxploitation.

Melvin Van Peebles

An influential African American director, screenwriter, actor, and composer known for his pioneering works in film, particularly in the development of blaxploitation movies in the 1970s.

Afro Hairstyle

A hairstyle characterized by a natural, large, rounded shape of curly hair that became a symbol of pride and cultural identity among African Americans during the 1960s.