The demand and supply for a good are respectively QD = 80 – 5P and QS...

The demand and supply for a good are respectively QD = 80 – 5P and QS = - 40 + 20P. 1) Determine the equilibrium price. 2) Determine the equilibrium quantity. Suppose the government imposes a unit tax of 1.5 on producers. 3) Determine the price paid by consumers. 4) Determine the size of the tax that is supported by consumers. 5) Determine the price received by producers. 6) Determine the size of the tax that is supported by producers. 7) Determine the quantity purchased and supplied. 8) Determine the deadweight loss due to the tax

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Rahul Sunny answered 1 year ago

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