What price will consumers pay after the tax is levied

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Reference no: EM131380407

Demand for fictitious good is Q=1200 - 2p. Suppose supply is Q= -600 + 2p.

What price will sellers receive after the tax is levied?

What price will consumers pay after the tax is levied?

What percent of the tax will be paid by the consumers?

What percent will be paid by the suppliers?

How many of the good will be sold after the tax is imposed?

How much consumer surplus do consumers get after the tax? What is the deadweight loss created by this tax?

Reference no: EM131380407

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