nsider the following supply and demand curves Price = 35-4*Q Price = 3*Q Suppose the government places a 7-dollar tax on producers. Doing so would generate _____ dollars of revenue. Suppose now instead of putting a 7-dollar tax on producers, the government put the 7-dollar tax on consumers. Doing so would generate _______ dollars of revenue. In this case, consumers would pay _____ percent of the tax.   Give typed answer ASAP with proper step by ste

ENGR.ECONOMIC ANALYSIS
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ISBN:9780190931919
Author:NEWNAN
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Chapter1: Making Economics Decisions
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Consider the following supply and demand curves

Price = 35-4*Q

Price = 3*Q

Suppose the government places a 7-dollar tax on producers. Doing so would generate _____ dollars of revenue.

Suppose now instead of putting a 7-dollar tax on producers, the government put the 7-dollar tax on consumers. Doing so would generate _______ dollars of revenue.

In this case, consumers would pay _____ percent of the tax.

 

Give typed answer ASAP with proper step by step explanation.

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