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Suppose that a market has the following supply and demand equations: Demand: QD=380-10pSupply: QS=80+5p If the government imposes a specific tax of on suppliers, (1.)

Suppose that a market has the following supply and demand equations: Demand: QD=380-10pSupply: QS=80+5p

If the government imposes a specific tax of on suppliers,

(1.) what will be the price buyers pay and

(2.) sellers receive,

(3.) the new quantity, and

(4.) the government revenue from the tax (all as functions of )?

(Bonus) What tax level maximizes the revenue the government collects from the tax?

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