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Price ($ U.S.) Qs = (Price) - 20 80 Supply QD = 160 -2(Price) 64 B 60 ..... D 52 Demand 20 32 40 Quantity

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Price ($ U.S.) Qs = (Price) - 20 80 Supply QD = 160 -2(Price) 64 B 60 ..... D 52 Demand 20 32 40 Quantity (units) Use the above graph to answer the following questions. 1) How much is the per unit tax imposed on this market? (2 Points) 2) How much is the total economic surplus prior to the imposition of the tax? (3 Points) 3) How much is the total economic surplus after the imposition of the tax? (3 Points) 4) How much is the excess burden (DWL) that results from the tax? (3 Points) 5) How much is the burden of the tax (incidence, not the lost surplus) that falls on the consumer? (3 points) 6) How much is the burden of the tax (incidence, not the lost surplus) that falls on the producer? (3 points)

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