Question 4 Given: QD = 160 -5P %3D QS = -11 + 4P %3D In addition, the government imposed a $3.00 tax on the buyer. Calculate the following: (a) The equilibrium price and equilibrium quantity. (b) Consumer and producer surplus before the tax. (c) Consumer surplus after the tax. (d) Producer surplus after the tax. (e) Deadweight loss. (f) Government revenue.

Question 4 Given: QD = 160 -5P %3D QS = -11 + 4P %3D In addition, the government imposed a $3.00 tax on the buyer. Calculate the following: (a) The equilibrium price and equilibrium quantity. (b) Consumer and producer surplus before the tax. (c) Consumer surplus after the tax. (d) Producer surplus after the tax. (e) Deadweight loss. (f) Government revenue.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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