Suppose the market demand function for ice cream is 
and the market supply function for ice cream is 
,both measured in millions of gallons of ice cream per year.Suppose the government imposes a $0.50 tax on each gallon of ice cream.The deadweight loss due to the tax is
Definitions:
Monthly Payments
Regular payments made once a month, often related to loans or leases.
Loan Payment
A specified amount of money an borrower must pay to a lender at regular intervals as repayment for borrowing money.
Future Value
The predicted amount of money that an investment will grow to at a specified future date, based on an assumed rate of growth.
Interest Rate
A lender's price to a borrower for the asset's usage, quantified as a percentage of the main sum.
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