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:
Partnership Capital
The total resources or assets that partners contribute to a partnership for the purpose of starting or expanding the business.
Trade Name
A commercial name used by a company or business for trading purposes, under which it conducts business or offers services.
Sole Proprietor
An individual who owns and operates a business alone, without forming a corporation or partnership.
Fictitious Business Names
Aliases under which individuals or businesses operate that are different from their legal, registered names, often registered with local or state governments.
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