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Consider the inverse demand curve: p = 90 - 20. Assume the market price is $50.00. Calculate consumer surplus at the equilibrium market price and
Consider the inverse demand curve: p = 90 - 20. Assume the market price is $50.00. Calculate consumer surplus at the equilibrium market price and quantity. Consumer surplus (CS) is $|:|. (Enter your response rounded to two decimal places.) Now suppose a government imposes a tax on the good that increases the market price to $60.00. Consumer surplus will |:| by $|:|. (Enter your response rounded to two decimal places.) increase decrease
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