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Concept: Effects of Taxes

Problem: If a tax has caused the market-clearing quantity to fall to Q2, what is consumer surplus?

The area of (A)

The area of (A), (B), and (C)

The area of (A), (B), (C), (D), and (E)

The area of (A), (B), (C), (D), (E), and (F)

The area of (C) and (E)

Problem: If a tax has caused the market-clearing quantity to fall to Q2, what is total economic surplus?

The area of (A) and (F)

The area of (D), (E), and (F)

The area of (A), (B), (D), and (F)

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