Equilibrium price and quantity-after-tax price to suppliers

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Using the results from previous question (the equilibrium price and quantity), which of the following is true or false? Explain (10 pts., 2.5 pts. each).

1. Tax revenue is equal to $108.(explain)

2. Price to consumers increased by $4.(explain)

3. Equilibrium quantity decreased by 4 units.(explain)

4. After-tax price to suppliers is $62. (explain)

Reference no: EM13868589

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