Demand for a good is given by: Qd=40-2p Supply for the same good is given by: Qs=4(p-t)-20 Where T is a tax on suppliers. When the tax is $3, what is the equilibrium price ? 2 points QUESTION 37 Referring to Exhibit 1, when the tax is $3, what is the equilibrium quantity ? 2 points QUESTION 38 Referring to exhibit 1, when the tax is $3, what is consumer surplus ? 2 points QUESTION 39 Referring to exhibit 1, when the tax is $3, what is producer surplus ? 2 points QUESTION 40 Referring to exhibit 1, when the tax is $3, what is the total tax revenue ? 2 points QUESTION 41 Referring to exhibit 1, when the tax is $3, what is the area of deadweight loss ?
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