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Suppose that the market for cigarettes in a particular village has the following supply and demand curves: QS=P, QD= 80P Suppose that the village council

Suppose that the market for cigarettes in a particular village has the following supply and demand curves: QS=P, QD= 80P

Suppose that the village council needs to raise $800 in revenue and wants to do this by taxing the cigarette market using an excise tax t . What should the excise tax, t, be in order to raise the required amount of money?

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