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April 23, 2014

Homework Help: microeconomics

Posted by joikia on Saturday, July 28, 2012 at 7:39pm.

the following information applies to the market for a particular items in the absence of aunit excise tax.

($4,50,200)
($5,75,175)
($6,100,150)
($7,125,125)
($8,150,100)
($9,175,75)
a. according to the informaton above, in the absence of a unit excise tax, what is the market price? what is the equilibrium quantity?
b. suppose that the government decides to subject producers of this item to a unit excise tax equal to $2 per unit sold. what is the new market price? what is the new equilibrium quantity?
c. what portion of the tax is paid by producers? what portion of the tax is paid by the consumers

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