Given a demand curve of P = 156 - 4Qd and supply of P = 6 + 2Qs, find the total cost to society of a lump sum tax of 10 dollars, assuming the government is as efficient in resouce use as households.

Economics: Private and Public Choice (MindTap Course List)
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ISBN:9781305506725
Author:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Publisher:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Chapter22: Price Takers And The Competitive Process
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Given a demand curve of P = 156 - 4Qd and supply of P = 6 + 2Qs, find the total cost to society of a lump sum tax of 10 dollars, assuming the government is as efficient in
resouce use as households.
Transcribed Image Text:TION 1 Given a demand curve of P = 156 - 4Qd and supply of P = 6 + 2Qs, find the total cost to society of a lump sum tax of 10 dollars, assuming the government is as efficient in resouce use as households.
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