The demand for ice cream is given by QD=20−2P, measured ingallons of ice cream. The supply of ice cream is givenby QS=4P−10. Use negative signs where appropriate. Round tothe nearest one-hundredth decimal place (0.01).
b. Suppose that the government legislates a $1 tax on a gallonof ice cream, to be collected from the buyer. Find the newequilibrium price and quantity.
New Equilibrium Price: P'=
New Equilibrium Quantity: Q'=
c. How much of the tax do the buyers bear?
d. How of the tax do the sellers bear?
e. Calculate the consumer surplus after the tax.
CS=
f. Calculate the producer surplus after the tax.
PS=
g. Calculate the government revenue from the tax.
GR=
h. Calculate the deadweight loss created by the tax.
DWL=
Please solve b-h
The demand for ice cream is given by QD=20−2P, measured in gallons of ice cream. The supply of ice cream is given by QS=
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