Consider the following demand and supply curves Demand: P=50+i-70 Supply: P=wages +30s Where i is income and wis wages If the government places a 10-dollar tax on producers, what would be the resulting consumer surplus?

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Chapter5: Elasticity
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QUESTION 5
Consider the following demand and supply curves
Demand: P = 50+i-70,
Supply: P=wages + 30
Where i is income and wis wages
If the government places a 10-dollar tax on producers, what would be the resulting consumer surplus?
Transcribed Image Text:QUESTION 5 Consider the following demand and supply curves Demand: P = 50+i-70, Supply: P=wages + 30 Where i is income and wis wages If the government places a 10-dollar tax on producers, what would be the resulting consumer surplus?
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