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Total amount of tax paid by the producers

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Reference no: EM131309565

Suppose the demand for a product is given by P=50-Q. Also, the supply is given by P=10+3Q. If a $12 excise tax is levied on the buyers of a good, after the tax, the total amount of tax paid by the producers is:

A)$21

B) $84

C) $63

D) $18

E) None of the above

Reference no: EM131309565

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