00:01
Okay, so for this question, let's first say draw the original growth.
00:05
So the original growth, quantity, and price, demand curve and supply curve.
00:15
So if there's no tax burden, originally the equivalent price is 5, and the equivalent quantity is 10.
00:25
And because of tax burden, that is 50 cents per hamburger.
00:31
So as a result, we will see a supply curve decrease.
00:37
A supply to course, a supply curve shift to the left.
00:40
This will be the new supply curve.
00:42
And this upper shift, this amount of shift, is actually 50 cents.
00:49
Okay.
00:50
So after the change, the new equilibrium has a price of 5 .2 and has an equilibrium quantity of 9.
01:01
So basically that's the new equivalent compared with the original one.
01:06
And you can see that since this is a 50 cents change and this point is 5 .2, so we definitely know this part.
01:17
This amount should be 4 .7, right? because it's a 50 cents upper shift of it.
01:25
Okay, so that is 4 .7.
01:27
Then we can just mark the consumer, so close, producer, suppose, and that we lost out.
01:31
After it.
01:33
So the new consumer surplus, because the new price for the consumer is 5 .2...