An artisan cheese cooperative operates in a regional agricultural market. The table below shows the weekly demand and supply schedules for their signature premium cheddar.
| Price per kg (£) | Quantity demanded (000s of kg per week) | Quantity supplied (000s of kg per week) |
|---|---|---|
| 11.00 | 220 | 380 |
| 10.50 | 240 | 360 |
| 10.00 | 260 | 340 |
| 9.50 | 280 | 320 |
| 9.00 | 300 | 300 |
| 8.50 | 320 | 280 |
| 8.00 | 340 | 260 |
| 7.50 | 360 | 240 |
| 7.00 | 380 | 220 |
If the government imposes an indirect tax of £3.00 per kg on this cheese, what will the new equilibrium price paid by consumers be?
£9.50£9.50£9.50
£10.00£10.00£10.00
£10.50£10.50£10.50
£11.00£11.00£11.00
