Suppose the Market Demand Function for Ice Cream Is

question 1

Multiple Choice

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 producer surplus after the tax is

• A) $4.40
• B) $5.40
• C) $1.80
• D) $4.92

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