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Suppose that the demand curve for cigarettes is given by Q^d = 50 P and the supply curve is given by Q^s = P. The
Suppose that the demand curve for cigarettes is given by Q^d = 50 P and the supply curve is given by Q^s = P. The government wants to raise $300 in revenues by taxing the cigarette market. Calculate the amount of the excise tax required to accomplish the government's goal.
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