A market has the inverse demand function P = 160 - 4Q and the inverse supply function P = 10 + Q. (Round your answers to the nearest whole number as necessary.)

Find the market-clearing quantity and price:

Q =

P =

The government imposes a $15 per unit tax on the good. Find the new quantity, the price consumers pay, and the deadweight loss of the tax

Qtax=

Pdemand=

DWL =

The tax is now removed. What price would consumers pay if the market became monopolized by a firm with a marginal cost curve equal to the inverse supply function? Assume the firm does not price discriminate.

Pmonopoly=

Would the deadweight loss from the monopoly be bigger or smaller than the deadweight loss from the tax?