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corie corie
wrote...
Posts: 767
6 years ago
The market demand and supply functions for toothpaste are: QD = 12 - 0.04P  and  QS = 3.8P + 4.  Calculate the equilibrium quantity and price and point elasticity of demand in equilibrium.  Next, calculate consumer surplus.  Suppose the toothpaste market is taxed $0.25 per unit.  Calculate the revenues generated by the tax.  Calculate the loss in consumer surplus.  What percentage of the burden of the tax is paid for by consumers?
Textbook 
Microeconomics

Microeconomics


Edition: 8th
Author:
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boransalboransal
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Posts: 477
6 years ago
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2 years ago
Thank you
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