The demand and supply curves for a price taking firm are as follows:   Qd = 10- 0.5 Pd Qs= -2+Ps, when Ps>=2 Qs= 0, when Ps<2 where Qd is the quantity demanded when the price consumers pay is Pd, and Qs  is the quantity supplied when the price producers receive is Ps. Answer the questions below:  Explain in detail (using demand and supply curves), when a tax is imposed, who would burden the tax?

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Q: Suppose the following demand and supply function: Qd = 750 – 25P Qs = -300 + 20 P          Find…

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A: Please find the answer below.   IMPOSITION OF TAX: Taxation is the imposition of compulsory levies…