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Business, 04.10.2020 14:01 Abbymay17

5. Calculating tax incidence Suppose that the U. S. government decides to charge wine consumers a tax. Before the tax, 45 billion bottles of wine were sold every year at a price of $4 per bottle. After the tax, 38 billion bottles of wine are sold every year; consumers pay $5 per bottle (including the tax), and producers receive $2 per bottle. The amount of the tax on a bottle of wine is $ per bottle. Of this amount, the burden that falls on consumers is $ per bottle, and the burden that falls on producers is $ per bottle. True or False: The effect of the tax on the quantity sold would have been the same as if the tax has been levied on producers. True False

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