Using the Graph Below, Determine Each of the Following

question 61

Essay

Using the graph below, determine each of the following:
a. equilibrium price before the tax
b. consumer surplus before the tax
c. producer surplus before the tax
d. total surplus before the tax
e. consumer surplus after the tax
f. producer surplus after the tax
g. total tax revenue
h. total surplus (consumer surplus + producer surplus + tax revenue) after the tax
i. deadweight loss

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