Question: Recalling the information from the Botox Patent Monopoly application, inverse demand was p = 800 - 375Q. marginal revenue was MR = 800 - 750Q.

 Recalling the information from the "Botox Patent Monopoly" application, inverse demand

Recalling the information from the "Botox Patent Monopoly" application, inverse demand was p = 800 - 375Q. marginal revenue was MR = 800 - 750Q. marginal cost was MC = 25, a constant, and quantity is in millions of units. What would happen to the equilibrium price and quantity if the government had collected a specific tax of $50 per vial of Botox? The equilibrium price would be $ (round your answer to two decimal places) The equilibrium quantity would be million units. (round your answer to two decimal places) What welfare effects would such a tax have? The deadweight loss (DWL) is $ million. (round your answer to two decimal places)

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