## Answers

Government collects tax revenue equals to the shaded portion in the diagram. More tax falls on the consumers as they have inelastic demand of the good. $0.20 of the tax falls on consumers while $0.10 on producers. Thus government tax revenue = $0.30 * 5000 = $1500

Consumers are paying $1.5 and purchasing 5000 units. Thus option D is correct.

Supply 1.4 1. 3f 1: 27. 11+ Dermend 2 2000 40o gooo gooo 1000 12000 2000 4000 9000 10000 12000 suntity

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