Consider a perfectly competitive market. The market supply for pizza is given by S(P) = 4P and the market demand is given by D(P) = 120 – P. Now the government implements a new law that every seller has to pay a tax of 15 on each pizza sold. What is the change in producer surplus induced by the tax?

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cutedrishti2000 cutedrishti2000

08-04-2021
Mathematics

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Consider a perfectly competitive market. The market supply for pizza is given by S(P) = 4P and the market demand is given by D(P) = 120 – P. Now the government implements a new law that every seller has to pay a tax of 15 on each pizza sold. What is the change in producer surplus induced by the tax?

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