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27-05-2023
Business

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The demand and supply for bicycles is given by: Qd = 1000 - 10P Q³ = 2P - 20 The government imposes a per unit tax of Tax = $12. What is new CS and PS? What is the change in consumer and producer surplus compared to equilibrium? What is the Deadweight Loss? What is government revenue? Graph your results.

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