Competitive market the market demand for a good

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In a perfectly competitive market the market demand for a good A is P=50-Q and the market supply is p=5+0.5Q. find the equilibrium price, quantity and the total welfare in this market. a unit tax=$15/unit is imposed on good A. calculate the amount of dead weight loss, the amount of tax collected by the government and the share of the tax the consumers and the producers pay. who pays more? Explain why? (Hint: treat the tax as shift in the demand to the left)

Reference no: EM13815736

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