Suppose that in the market for coffee, the government decides to
impose a tax on the consumption of coffee.
Illustrate the equilibrium market for coffee reflecting the new
tax.
On your graph, label the new price that consumers pay as Pc
On your graph, label the new price that sellers receive as
Ps
On your graph, shade in the area representing the tax revenue
received by the government and label it (TR).
On your graph, shade in the area of...