Vertical intercept for supply curve-market tax revenue

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Reference no: EM131094516

Vertical intercept for the supply curve: -120 (NEGATIVE 120) Vertical intercept for the demand curve: 200 P*: $80 Q*: 600 A tax is applied to the market in the amount of $32 per unit. With the tax, sellers now receive a price of $60 per unit sold. Price paid by buyers is $92.00. With the tax, 540 units are sold. Carefully following all numeric instructions, calculate the market's tax revenue.

Reference no: EM131094516

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