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Figure 6.9 depicts a hypothetical fish market with a horizontal supply curve. The consumer surplus at the initial equilibrium is shown by:

▸ Triangle A + Rectangle B + Triangle C.

▸ Triangle A + Rectangle B.

▸ Triangle A + Rectangle B + Rectangle D.

▸ Triangle A.

Triangle A + Rectangle B + Triangle C.

Figure 6.9 depicts a hypothetical fish market with a horizontal supply curve. The consumer surplus at the new equilibrium with $2 tax is shown by:

▸ Triangle C + Rectangle E.

▸ Triangle A.

▸ Triangle A + Rectangle B.

▸ Rectangle B + Triangle C.

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Figure 6.9 depicts a hypothetical fish market with a horizontal supply curve. Suppose the government imposes a tax of $2 per pound of fish, and the tax is paid in legal terms by producers. Which of the following shows the extra money consumers must pay for the 100,000 pounds of fish they purchase?

▸ Triangle A

▸ Rectangle B

▸ Rectangle B + Triangle C

▸ Triangle A + Rectangle B

Rectangle B

Figure 6.9 depicts a hypothetical fish market with a horizontal supply curve. Suppose the government imposes a tax of $2 per pound of fish, and the tax is paid in legal terms by producers. Which of the following shows the loss of consumer surplus on the fish that are NOT consumed because of the tax?

▸ Rectangle B + Triangle C

▸ Triangle C + Rectangle E

▸ Triangle C

▸ Rectangle B + Rectangle D

Triangle C

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Figure 6.9 depicts a hypothetical fish market with a horizontal supply curve. Suppose the government imposes a tax of $2 per pound of fish, and the tax is paid in legal terms by producers. Which of the following shows the tax revenue raised by the government?

▸ Rectangle B

▸ Rectangle B + Triangle C

▸ Triangle A

▸ Rectangle B + Rectangle D

Rectangle B

Figure 6.9 depicts a hypothetical fish market with a horizontal supply curve. Suppose the government imposes a tax of $2 per pound of fish, and the tax is paid in legal terms by producers. Which of the following shows the difference between the total burden of the tax and the amount of revenue collected by the government?

▸ Triangle A

▸ Rectangle B

▸ Triangle C

▸ Rectangle E

Triangle C

Figure 6.9 depicts a hypothetical fish market with a horizontal supply curve. Suppose the government imposes a tax of $2 per pound of fish, and the tax is paid in legal terms by producers. Which of the following statements is correct?

▸ Consumers bear the full cost of the tax.

▸ Both producers and consumers equally share the tax.

▸ Producers bear the full cost of the tax.

▸ Consumers bear a relatively large share of the tax, compared to producers.

Consumers bear the full cost of the tax.

Figure 6.9 depicts a hypothetical fish market with a horizontal supply curve. Suppose the government imposes a tax of $2 per pound of fish, and the tax is paid in legal terms by producers. If the supply curve were positively sloped:

▸ both producers and consumers share the tax.

▸ consumers would bear the full cost of the tax.

▸ producers would bear the full cost of the tax.

▸ There is not sufficient information.

both producers and consumers share the tax.

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