Suppose that the demand function is given by Q" - 120 - 2P and supply function is given as Q- =120 Suppose now that government imposes $12 tax per unit of output on sellers. What is the burden on buyers? O $3 O$0 O$6 $12

Suppose that the demand function is given by Q" - 120 - 2P and supply function is given as Q- =120 Suppose now that government imposes $12 tax per unit of output on sellers. What is the burden on buyers? O $3 O$0 O$6 $12

Principles of Economics, 7th Edition (MindTap Course List)

7th Edition

ISBN:9781285165875

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter6: Supply, Demand And Government Policies

Section: Chapter Questions

Problem 5QR

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Question

Suppose that the demand function is given by Q" - 120 – 2P and supply function is given as Q -120
Suppose now that government imposes $12 tax per unit of output on sellers What is the burden on buyers?
$3
$0
O$6
$12

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