Question

Suppose the demand for a product is given by P = 100 – 2Q. Also, the supply is given by P = 20 + 6Q. If an $8

per-unit excise tax is levied on the buyers of a good, producer surplus is equal to

$4

$72

None of these

$81

$243

Suppose the demand for a product is given by P = 30 – 3Q. Also, the supply is given by P = 10 + Q. If a $4 per-unit excise tax is levied on the buyers of a good, government revenue is equal to

$24

None of these

$16

$4

$8

Looking for a Similar Assignment? Order now and Get 10% Discount! Use Coupon Code "Newclient"