Scenario 8-3
Suppose the market demand and market supply curves are given by the equations: 
-Refer to Scenario 8-3. Suppose that a tax of T is placed on buyers so that the demand curve becomes: 
If T = 40, how much tax revenue will be collected from this tax?
Definitions:
College
An institution of higher education offering undergraduate programs, typically leading to associate or bachelor's degrees.
Mean-level Changes
Adjustments or shifts in the average value of a variable or trait over time or across groups.
Rank-order Consistency
The degree to which the relative ordering of individuals on a particular trait remains the same over time, even if the absolute level of the trait changes.
Population
The total number of individuals or organisms within a specified area or group.
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