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QD= 30 - 4P QS= -6 + 8P t = 0.375 where t is a specific tax that has to be paid by suppliers. Calculate
QD= 30 - 4P
QS= -6 + 8P
t = 0.375 where t is a specific tax that has to be paid by suppliers.
Calculate
i. the equilibrium quantities with and without the tax
ii. the increase in the price paid by consumers and the fall in consumer surplus
iii. the fall in the price received by suppliers and the fall in producer surplus
iv. the tax revenue received by the government
v. the deadweight loss of the tax.
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