Based on the following supply and demand functionsP 0,+8 and P=-30, +80,the government imposes a fixed tax of $36 on each goodThe n the government's tax revenue is$324IS300$972$432

P = Qs +8 P = -3Qd + 80 For equilibrium, Demand = Supply Qs +8 = -3Qd + 80 4Q = 72 Q = 18 units…

Answered: Based on the following supply and…

Based on the following supply and demand functions P=0,+8 and P = -3Q, +80, If the government imposes a fixed tax of $36 on each good The n the government's tax revenue is $324 $432

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Based on the following supply and demand functions
P 0,+8 and P=-30, +80,
the government imposes a fixed tax of $36 on each good
The n the government's tax revenue is
$324
IS300
$972
$432

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