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A market with the inverse demand curve p = 305 - 5 y and the supply curve p = 8 + 4 y a) Find
A market with the inverse demand curve p = 305 - 5 y and the supply curve p = 8 + 4 y
a) Find the equilibrium of this market (price and quantity).
b) The government imposes a tax of $ 45 per unit.
b1 Find the balance with tax (quantity, price paid, price received).
b2 What is the government's revenue from the tax?
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