Use the following supply and demand equations to answer the, Ask an Expert

Economics

Use the following supply and demand equations to answer the questions bellow:

QD= 80-2P

QS= P-10

A. Graph both curves, labeling anywhere they intercept on the Quantity and Price axis, find the equilibrium

B. Calculate the consumer surplus, producer surplus, and deadweight loss

C. A tax of 3 dollars per unit is no wbeing enforced on the supplier. Graph this change and find the new quantity demamnded, quantity supplied, and price after the tax is implanted

D. What portion of the 3 dollar tax is absorbed by consumers?

E. What portion of the 3 dollar tax is absorbed by producers?

F. How much revenue for the government did this tax generate?

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M91992573

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