8. Suppose the inverse demand equation for unleaded gasoline is P = 16?2Q, and the inverse supply...
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8. Suppose the inverse demand equation for unleaded gasoline is P = 16?2Q, and the inverse supply equation is P = 0.5Q, where P is per gallon price. The government decides to impose a $1 excise tax on gas. Gas stations ?le the tax. How much does a consumer pays for each gallon in equilibrium after the imposition of tax? How much does a gas station get for each gallon sold?
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