Prior to any taxes, the equilibrium price of bottled water is $5 per gallon. Then a $1-per-gallon tax is levied. As a result, the price of bottled water rises to $5. 75 per gallon. The incidence of the $1 tax is _____ paid by consumers and _____ paid by producers.

The price of bottled water rises to $5. 75 per gallon. The incidence of the $1 tax is $0.75 paid by consumers and  $0.25.What is a price?From Longman Business Dictionary ˌmean ˈprice [countable]  average price of a set of things → price. Price indicates the cost or  amount at which something is valued. An example  price is $1 for 3 cookies. The idiomatic phrase is ``How much does it cost?''. In your phrasing you are really asking if the price is known and if you are in a position to know it - probably not what you really want to know value that accompanies it. Things of value, including tangible (functional) and intangible (fame) elements, are exchanged for satisfaction and usefulness. These levels of price discrimination are also known as individual pricing (tier 1 pricing), product versioning or menu pricing (tier 2 pricing), and group pricing (tier 3 pricing). . To learn more about price from the given link :https://brainly.com/question/19091385#SPJ4