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Suppose the demand and supply curves for good x are: QD= 500 - 5Px QS= -100 + 2.5Px What is the equilibrium market price for

Suppose the demand and supply curves for good x are:

QD= 500 - 5Px

QS= -100 + 2.5Px

What is the equilibrium market price for good x?

Refer to the demand and supply curves above.

What is the consumer surplus at the market equilibrium price?

Refer to the demand and supply curves above.

If the government imposes a $15 excise tax, what is the new market equilibrium price?

Refer to the demand and supply curves above.

If the government imposes a $15 excise tax, what is the new market equilibrium quantity?

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