Consider a market with a demand curve of p10-q and a supply, Business Economics

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Consider a market with a demand curve of p10-q and a supply

Consider a market with a demand curve of P=10-Q and a supply curve of P=Q. Before the imposition of a tax, equilibrium quantity is 5, and equilibrium price is $5 (verify this). If a tax of $5 per unit is placed on this market, quantity traded falls to 2.5 units. Calculate the deadweight loss created by the imposition of this tax. Hint: a carefully drawn diagram will help you a lot.

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Business Economics: Consider a market with a demand curve of p10-q and a supply

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