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Demand in a perfectly competitive market is Q = 100 - P. Supply in that market is Q = P - 10. (i) If the
Demand in a perfectly competitive market is Q = 100 - P. Supply in that market is Q = P - 10.
(i) If the government imposes a $10 per unit sales tax, what is the consumer price, seller price, and quantity?
(ii) Once the government imposes the tax, how much consumer surplus, producer surplus, and dead-weight loss is there?
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