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Question 2 (Calculating tax revenue and deadweight loss from a tax, 20pt) Demand: P=123Q Supply: P=3+31Q After a $3 per unit tax is imposed on

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Question 2 (Calculating tax revenue and deadweight loss from a tax, 20pt) Demand: P=123Q Supply: P=3+31Q After a $3 per unit tax is imposed on sellers, (a) What is the new supply equation? Plot the initial S\&D as well as the new supply function on the same x-y coordinate (b) Atter this tax is imposed, find the after-tax equilibrium quantity QT (c) Highlight the tax revenue and deadweight loss in the graph. (d) Calculate the tax revenue and deadweight loss

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