Refer to the graph shown. Initially, the market is in equilibrium with price equal to $12 and quantity equal to 140. As a result of a per-unit tax imposed by the government, the supply curve shifts from S₀ to S₁. The effect of the tax is to: A) give government tax revenues of $100. B) give government tax revenues of $280. C) reduce consumer surplus by $240. D) reduce consumer surplus by $200.

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The Answer of Refer to the graph shown. Initially, the market is in equilibrium with price equal to $12 and quantity equal to 140. As a result of a per-unit tax imposed by the government, the supply curve shifts from S₀ to S₁. The effect of the tax is to: A) give government tax revenues of $100. B) give government tax revenues of $280. C) reduce consumer surplus by $240. D) reduce consumer surplus by $200.

Refer to the Graph Shown