the inverse demand function for mangos is p=6-0.5q, where q is the number of crates that are sold. The inverse supply function is p=q. In the past there was no tax on mangos but now a tax of 3$ per crate has been imposed on suppliers. What are the quantities produced before and after the tax was imposed? How much tax is raised? How much consumer surplus is lost? Producer Surplus? Total Deadweight Lost

the inverse demand function for mangos is p=6-0.5q, where q is the number of crates that are sold. The inverse supply function is p=q. In the past there was no tax on mangos but now a tax of 3$ per crate has been imposed on suppliers. What are the quantities produced before and after the tax was imposed? How much tax is raised? How much consumer surplus is lost? Producer Surplus? Total Deadweight Lost

MACROECONOMICS FOR TODAY

10th Edition

ISBN:9781337613057

Author:Tucker

Publisher:Tucker

Chapter3: Market Demand And Supply

Section3.A: Consumer Surplus, Proudcer Suplus, And Market Efficency

Problem 12SQ

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