Figure 8-1
-Refer to Figure 8-1. Suppose the government imposes a tax of P'-P'''. The area measured by L + M + Y represents
A)consumer surplus after the tax.
B)consumer surplus before the tax.
C)producer surplus after the tax.
D)producer surplus before the tax.

Question

Figure 8-1 
-Refer to Figure 8-1. Suppose the government imposes a tax of P'-P'''. The area measured by L + M + Y represents
A)consumer surplus after the tax. 
B)consumer surplus before the tax. 
C)producer surplus after the tax. 
D)producer surplus before the tax.

Quizplus · Accepted Answer

The Answer of Figure 8-1 
-Refer to Figure 8-1. Suppose the government imposes a tax of P'-P'''. The area measured by L + M + Y represents
A)consumer surplus after the tax. 
B)consumer surplus before the tax. 
C)producer surplus after the tax. 
D)producer surplus before the tax.

Figure 8-1 -Refer to Figure 8-1. Suppose the Government Imposes a Tax