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Q = 600 -5Pand Q = 2P - 100. a- What are the equilibrium quantity and equilibrium price? b. How much consumer surplus exists in

Q = 600 -5Pand Q = 2P - 100.

a- What are the equilibrium quantity and equilibrium price?

b. How much consumer surplus exists in this market?

c. If a $10 excise tax is levied on this good, what will happen to the equilibrium price and quantity?

d. What will the consumer surplus be after the tax?

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