Using the graph below, 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. R7
f. R3
g. As a result of the tax, the level of market activity has fallen, from 60 units bought and sold to only 50 units bought and sold.
Definitions:
Left Upper Quadrant
A section of the abdomen located on the left side of the body, above the umbilicus and containing part of the stomach, spleen, and pancreas.
Deep Palpation
a method of examining the body by applying pressure with the hands to deeply feel organs or tissues.
Spleen
An organ located under the ribcage and above the stomach in the left upper quadrant of the abdomen, playing a vital role in immune response and blood filtration.
Phonemes
The tiniest sounds in languages that have the power to differentiate words.
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