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Suppose that the market forwholesale milk in Utopia is perfectly competitive. The market supply curve is: Q. : 4000P, 7 4000. for a 2 1.
Suppose that the market forwholesale milk in Utopia is perfectly competitive. The market supply curve is: Q. : 4000P, 7 4000. for a 2 1. where Q3 is gallons of milk supplied by producers in Utopia when the price received by producers is PK per gallon. The market demand curve is: Q4 : 11, 000 7 200031. for Pd 5 5.50. where Q; is gallons of milk demanded by buyers in Utopia when the price paid by buyers is Pd per gallon. If the government of Utopia imposes a $0.30 tax per gallon of milk traded. what is the deadweight loss from the tax? $60 $580 $1160 $1630
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