The government steps in and levies a unit tax of 10 on this, Ask an Expert

Economics

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

What is the revenue raised by the government through this tax.

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Macroeconomics, Economics

Category:- Macroeconomics
Reference No.:- M969411

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