Consider the market for shoes in United States illustrated on calculator.

Consider the market for shoes in United States illustrated on calculator. The orange (upward-sloping

Consider the market for shoes in United States illustrated on calculator. The orange (upward-sloping) line represents the market supply of shoes and the blue (downward-sloping)line represents the market demand. Use the calculator to help you answer the following questions. You will not be graded on any changes you make to the calculator The market is initially in equilibrium. Thne the government institutes a $10 per pair tax to be paid by the seller. Fill in the following table with the quantity sold the price buyers pay and the price seller receive before and after the tax. Quantity Sold Prices Buyers Pay Prices Sellers receive Before tax __________ ___________ ______________ After tax __________ ____________ ______________ Using the data you entered in the preceding table calculate the tax burden that falls on buyers and sellers respectively and calculae the price elasticity of demand and supply using the midpoint method. enter your results in the following table. Buyer Sellers Tax burden ($per pair) _______ _______ Elasticity ________ ________ The burden of the tax falls more heavily on the _________side of the market. Show less