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-Refer to Figure 22

Question 24

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-Refer to Figure 22.2.Suppose that the supply of land is constant at L acres,and Price per acre is $400.In addition,the before-tax demand for land can be characterized by the equation P = 500 - 2L,where L is the acres of land and P is the price. (A)What is the constant supply of land (L)in the market? (B)If the after-tax demand curve, ,can be written as P = 400 - 4L,what is ,and how much tax revenue is generated?
-Refer to Figure 22.2.Suppose that the supply of land is constant at L acres,and Price per acre is $400.In addition,the before-tax demand for land can be characterized by the equation P = 500 - 2L,where L is the acres of land and P is the price.
(A)What is the constant supply of land (L)in the market?
(B)If the after-tax demand curve, -Refer to Figure 22.2.Suppose that the supply of land is constant at L acres,and Price per acre is $400.In addition,the before-tax demand for land can be characterized by the equation P = 500 - 2L,where L is the acres of land and P is the price. (A)What is the constant supply of land (L)in the market? (B)If the after-tax demand curve, ,can be written as P = 400 - 4L,what is ,and how much tax revenue is generated?
,can be written as P = 400 - 4L,what is -Refer to Figure 22.2.Suppose that the supply of land is constant at L acres,and Price per acre is $400.In addition,the before-tax demand for land can be characterized by the equation P = 500 - 2L,where L is the acres of land and P is the price. (A)What is the constant supply of land (L)in the market? (B)If the after-tax demand curve, ,can be written as P = 400 - 4L,what is ,and how much tax revenue is generated?
,and how much tax revenue is generated?

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(A)If the price is 400,then the constant...

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