5 Draw a supply and demand curve for a good where the market price is $15. Now...
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5 Draw a supply and demand curve for a good where the market price is $15. Now assume that the government imposes a $3 tax on buyers for every good they purchase. Graphically show the deadweight loss of the tax and the amount of money the government raises through the tax. Show the change in total consumers’ surplus and total producers’ surplus caused by the tax.
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