Refer to the figure below. Suppose the original before-tax demand curve for champagne is P = 100 - 2Qd. Suppose further that supply is P = 5 + 3Qs. Now suppose a $5 unit tax is imposed on consumers.
(A)What is the before-tax equilibrium price and quantity?
(B)What is the after-tax equilibrium price and quantity?
(C)How much tax revenue is raised?
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