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Q D = 360-5PQ S = 10P - 90 Find tax free equilibrium price and quantity.Find (net) consumer surplus and producer surplus.Label a supply and
QD= 360-5PQS= 10P - 90
- Find tax free equilibrium price and quantity.Find (net) consumer surplus and producer surplus.Label a supply and demand diagram with your results.
- tax of $10 per unit is imposed.Find the total tax revenue.
- tax of $20 per unit is imposed.Find the total tax revenue.
- tax of $30 per unit is imposed.Find the total tax revenue.
- Draw Arthur Laffer's curve, including the tax revenue numbers solved with this question.
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Principles of Economics
Authors: N. Gregory Mankiw
8th edition
1305585127, 978-1305971493, 978-1337516860, 1337516864, 978-0357539200, 978-1305585126
