The table below illustrates the market for internet

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Reference no: EM13377329

The table below illustrates the market for Internet services. Use a demand-supply

graph to answer the following questions.

Price Q Demanded Q Supplied

(dollars per month) (units per month)

0 30 0

10 25 10

20 20 20

30 15 30

40 10 40

50 5 50

60 0 60

a. What is the market price of Internet services?__________

b. If the government imposes a tax of $15 a month on the market, what price would the buyer of an Internet service pay?__________

c. What price would the seller of the Internet service receive?____________________

d. Does the buyer or the seller pay more of the tax? Explain

e. What is the tax revenue collected by the government?__________

f. What is the deadweight loss created by the tax?__________

Reference no: EM13377329

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