Homework Answers
A) Tax revenue = (7000+16800)-9800 = 14000
B) Per unit tax
Since DWL = 9800 and change in quantity = 1400
DWL = 0.5*change in quantity*per unit tax
9800 = 0.5*1400*tax
9800 = 700*t
t = 9800/700 = 14
C) Since tax revenue = 14000 and tax = 14
tax revenue = quantity*tax
14000 = q*14
q = 14000/14 = 1000
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