TABLE OF CONTENTS

Question 1 of 2

Work it Out
true
true
You must read each slide, and complete any questions on the slide, in sequence.

The supply curve for rice is as follows:

Price (per 100 lb. bag) Quantity
$40 10,000
$60 15,000
$80 20,000
Table

Under pressure from nutrition activists, the government decides to tax rice producers with a $5 tax per 100-pound bag. Using the preceding figure, draw the new supply curve.

0:10

Price (per 100 lb. bag) Quantity
10,000
15,000
20,000
Table

0:10