The equilibrium price of a good is $15. Suppose the government introduces a tax on this good. In this case, the price paid by consumers is 1.4 times more than the equilibrium price, and the price received by producers is 1.2 times less than the equilibrium price. Calculate the amount of tax per good. Enter your answer in the box below and round to two decimal places if necessary.

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A: Inverse Demand: Pd = 31000000 - 1/3q2  Inverse Supply: Ps = 1500000+4500q

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Q: rice ride) $7.50 S 7.00 6.50 6.00 5.50 E 5.00 4.50 4.00 3.50 3.00 2.50 2.00 9 10 11 12 13 14 1 6 7…

A: When excise tax is imposed, the supply curve will shift to the left by an amount equal to tax.

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A: NOTE: Since we only answer up to 3 sub-parts, we’ll answer the first 3. Please resubmit the question…

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Q: Question 5 Suppose that the government imposes a tax on cigarettes. Use the diagram below to answer…

A:

Q: Question 5 Suppose that the government imposes a tax on cigarettes. Use the diagram below to answer…

A: Since we only answer up to 3 sub-parts we will answer the first 3. Please resubmit the question…

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