How much would consumer welfare

Reference no: EM132926989

Week 3

The demand for premium beer is summarized in the equation QD = 10000 - 1000P, where quantity is in bottles and price is in sterling pounds per bottle. How much would consumer welfare (as measured by consumer surplus) fall if a new tax on alcohol led breweries the price from £1 to £2?

Reference no: EM132926989

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