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Suppose the demand for a product is given by P = 40 - 4Q. Also, the supply is given by P = 10 + Q.
Suppose the demand for a product is given by P = 40 - 4Q. Also, the supply is given by P = 10 + Q. If a $10 per-unit excise tax is levied on the buyers of a good, consumer surplus is equal to __.
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