2 Andrea gives piano lessons. She has an opportunity cost of $50 per lesson and charges $60....

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2 Andrea gives piano lessons. She has an opportunity cost of $50 per lesson and charges

$60. Andrea has two students: Amy, who has a willingness to pay $70, and Carl, who has a willingness to pay $90. When the government puts a $20 tax on piano lessons and Andrea raises her price to $80, the deadweight loss is __ and the tax revenue is __ .

a $10,$20 b $10, $40

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Principles Of Microeconomics

ISBN: 125206

8th Edition

Authors: Joshua Gans, Stephen King, Martin Byford, N Gregory Mankiw

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