A tax of $0.25 is imposed on each bag of potato chips that is sold. The tax decreases producer surplus by $600 per day; • generates tax revenue of $1,220 per day; . decreases the equilibrium quantity of potato chips by 120 bags per day. From this information, it follows that the tax a. decreases consumer surplus by $645 per day. b. decreases the equilibrium quantity from 6,000 bags per day to 5,880 bags per day. c. decreases total surplus from $3,000 to $1,800 per day. d. produces a deadweight loss of $15 per day.
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A tax of $0.25 is imposed on each bag of potato chips that is sold. The tax decreases producer surpl...
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