c. Tax revenue is T x Q. Use your answer to part (b) to solve for tax revenue, consumer surplus and producer surplus b. The deadweight loss of a tax is the area of the triangle between the supply and demand curves Recalling that the area of a triangle is /2 x base x height, solve for deadweight loss

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c. Tax revenue is T x Q. Use your answer to part (b) to solve for tax revenue, consumer surplus and
producer surplus
b. The deadweight loss of a tax is the area of the triangle between the supply and demand curves
Recalling that the area of a triangle is /2 x base x height, solve for deadweight loss
Transcribed Image Text:c. Tax revenue is T x Q. Use your answer to part (b) to solve for tax revenue, consumer surplus and producer surplus b. The deadweight loss of a tax is the area of the triangle between the supply and demand curves Recalling that the area of a triangle is /2 x base x height, solve for deadweight loss
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