Explain how is tax burden split between buyer and seller, Microeconomics

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Explain how is tax burden split between buyer and seller

Suppose supply is P = 40 + Q while demand is Q = 45 - Q/2.

a. Find the equilibrium price and quantity.

b. Suppose buyers must pay a tax of T = 6/unit. Determine the quantity exchanged, and prices for buyers and sellers.

c. How is the tax burden split between buyer and seller?

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Microeconomics: Explain how is tax burden split between buyer and seller

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Microeconomics: Explain how is tax burden split between buyer and seller

Reference No:- TGS070939

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Microeconomics: Explain how is tax burden split between buyer and seller

Reference No:- TGS070939

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