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Suppose the demand and supply curves for coal in a country are as follows, where p is $ per ton and Q is millions of
Suppose the demand and supply curves for coal in a country are as follows, where p is $ per ton and Q is millions of tons per year: QD = 500 493 Q5 = 2P5 Calculate market equilibrium p*: 35 Calculate market equilibrium Q\": million tons Suppose a tax of $30 per ton is introduced to the coal market (above), collected from the sellers: Calculate net-of-tax equilibrium price paid by buyers: $ Calculate net-of-tax equilibrium price received by sellers: 35 Calculate after-tax equilibrium quantity of coal: million tons Of the $30 per ton in tax, how much (in $ per ton) is paid by buyers? $
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