Find the excess burden of the tax

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Reference no: EM13772519

The demand for widgets is P = 100 -3Q and the supply of widgets is P = 20 + 2Q.

a. Who bears the economic incidence of a $5 per unit tax on widgets?

b. How much revenue does the tax raise for the government.

Find the excess burden of the tax.

Reference no: EM13772519

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