Question

Suppose a commodity tax is levied on a product. The supply curve is linear and upward...

Suppose a commodity tax is levied on a product. The supply curve is linear and upward sloping and the demand curve is linear and downward sloping. The tax lowers the consumer surplus by $300 and lowers the producer surplus by $200. The deadweight loss is $50. The government tax revenue is $[Answer]. Now, suppose we learned that the tax rate is $10 per unit. The equilibrium quantity after the tax must be [Answer]. Consequently, we conclude that the equilibrium quantity traded before the tax must be [Answer].

(In decimal numbers, with two decimal places, please.)

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