The market demand for steel is QD = 240–6P and the market supply for steel is QS= –60 +4P. Government imposes a $10 tax per unit of steel bought by the consumer.  a) Who bears the economic incidence of this tax? b) Why does one side take more burden of tax than the other side? c) Calculate the deadweight loss of a $10 tax per unit levied on consumers of steel.

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