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percent. If you are rational, how would you prefer to receive your prize? Why? 3. Suppose the Supply and Demand for imported trucks is given by Q.- -1200 +.05P, Qa 3300 .10P. Suppose a $3,000 excise tax is levied on sellers of imported trucks. a. How is the burden of this tax distributed? b. How much tax revenue is generated? 4. Suppose the production of commodity Q was such that Total Benefit = 90Q and Total Cost 15Q
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