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Calculate the level of consumer surplus

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Reference no: EM131668782

Weekly demand is estimated to be Q = 50,000 - 100P. Supply is estimated to be Q = 25P - 5000.

A. Calculate the level of consumer surplus at the Equilibrium price

B. If the government imposes a $20 tax on cellphones in this market, what will be the equilibrium price of smartphones after the tax?

c. Calculate the Equilibrium Price and Quantity in this market for cellphones.

Reference no: EM131668782

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