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please help asap thanks 9. There used to be no tax on towels. The price of a towel was $8 and the quantity bought was
please help asap
9. There used to be no tax on towels. The price of a towel was $8 and the quantity bought was 300 towels. Then the government put a tax of $2 per towel in place. As a result the price of towels, for the consumer, rose to $9.50, and only 280 towels were bought. How much revenue is gained? How much consumer surplus is lost? How much producer surplus is lost? Approximate the deadweight loss thanks
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