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Distribution of tax payments between buyers and sellers

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Reference no: EM131063560

Australian Government has imposed a tax on Beer. Assume that the tax on Beer is $20 per unit (a unit is a carton of drinks) Assume the demand and supply functions for cartons of Beers per week are: P=200 - 0.5Q and P=0.5Q.

Calculate the amount of tax revenue collected by the government and the distribution of tax payments between buyers and sellers.

Reference no: EM131063560

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