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Economics

Q. Suppose that demand curve for a particular commodity is QD=1,000-10P. Marginal costs of a supplier are constant and amount to 10. Market for this commodity is characterized by perfect competition. Government steps in and levies a unit tax of 10 on this commodity.

Illustrate what is revenue raised by government through this tax.

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M9306250

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