# The Market For Pizza Is Characterized By The Following Demand

The market for pizza is characterized by the following demand and supply curves. Use the grey point (star symbol) to indicate the competitive market equilibrium. Then use the green point(triangle symbol) to shade the area that represents consumer surplus in this market. Next use the purplepoint (diamond symbol) to shade the area that represents producer surplus. Finally, use the black point(plus symbol) to indicate the deadweight loss in this market. (Hint: If the value for any of these graphicalobjects is zero, leave that element on the palette. )Suppose that the government forces each pizzeria to pay a \$1 tax on each pizza sold. On the following graph, use the grey segment (star symbols) to show the tax wedge that forms at the newquantity sold because of the tax. Then use the tan polygon (dash symbols) to indicate the tax revenuegenerated by this tax. Then use the green point (triangle symbol) to shade the area that represents consumersurplus, and the purple point (diamond symbol) to shade the area that represents producer surplus. Finally,use the black point (plus symbol) to indicate the deadweight loss in this market. (Hint: If the value for anyof these graphical objects is zero, leave that element on the palette. )Indicate whether each of the areas listed in the following table increased, decreased,or remained the same as a result of the tax

# The market for pizza is characterized by the following demand

Question
The market for pizza is characterized by the following demand and supply curves.
Use the grey point (star symbol) to indicate the competitive market equilibrium. Then use the green point
(triangle symbol) to shade the area that represents consumer surplus in this market. Next use the purple
point (diamond symbol) to shade the area that represents producer surplus. Finally, use the black point
(plus symbol) to indicate the deadweight loss in this market. (Hint: If the value for any of these graphical
objects is zero, leave that element on the palette.)

Suppose that the government forces each pizzeria to pay a \$1 tax on each pizza sold.
On the following graph, use the grey segment (star symbols) to show the tax wedge that forms at the new
quantity sold because of the tax. Then use the tan polygon (dash symbols) to indicate the tax revenue
generated by this tax. Then use the green point (triangle symbol) to shade the area that represents consumer

surplus, and the purple point (diamond symbol) to shade the area that represents producer surplus. Finally,
use the black point (plus symbol) to indicate the deadweight loss in this market. (Hint: If the value for any
of these graphical objects is zero, leave that element on the palette.)

Indicate whether each of the areas listed in the following table increased, decreased,
or remained the same as a result of the tax