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Exhibit 20-2Refer to Exhibit 20-2. The market for good X is initially in equilibrium at $5. The ...

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Exhibit 20-2Refer to Exhibit 20-2. The market for good X is initially in equilibrium at $5. The ...

Exhibit 20-2

Refer to Exhibit 20-2. The market for good X is initially in equilibrium at $5. The government then places a per-unit tax on good X as shown by the shift of S₁ to S₂. What is an expression for the tax revenue raised?

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$2.25 x Q₂

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$1.25 x Q₂

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$1.00 x Q₂

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($1.00 x Q₂) + [$1.25 x (Q₁ - Q₂)]

▸

$2.25 x (Q₁ - Q₂)

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Economics

Edition: 12^th

Author: Arnold

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