Given: QD = 160 -5P QS = -11 + 4P In addition, the government imposed a $3.00 tax on the buyer. Calculate the following: (a) The equilibrium price and equilibrium quantity. (b) Consumer and producer surplus before the tax. (c) Consumer surplus after the tax.

Managerial Economics: A Problem Solving Approach
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ISBN:9781337106665
Author:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
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Chapter2: The One Lesson Of Business
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Given:

QD = 160 -5P

QS = -11 + 4P

In addition, the government imposed a $3.00 tax on the buyer.

Calculate the following:

(a) The equilibrium price and equilibrium quantity.

(b) Consumer and producer surplus before the tax.

(c) Consumer surplus after the tax.

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