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Suppose the government levies a tax of $2 per unit

Question # 00511587
Subject: Economics
Due on: 04/14/2017
Posted On: 04/14/2017 07:08 AM

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Suppose the government levies a tax of $2 per unit that the buyers of the good must pay. On a new graph, show and explain which curve shifts which way, derive a new equilibrium quantity, and the prices paid by buyers and received by sellers. Then show consumer surplus, producer surplus, government revenue, and the deadweight loss on the second graph. How many dollars is each of these?

P 0,1,3,3,4,5,6,

QDemanded 12,10,8,6,4,2,0

Q supplied 0,2,4,6,8,10,12

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Suppose the government levies a tax of $2 per unit

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