Question: Suppose the demand for a product is given by P = 100 - 2Q. Also, the supply is given by P = 20 + 6Q.

Suppose the demand for a product is given by P = 100 - 2Q. Also, the supply is given by P = 20 + 6Q. If an $8 per-unit excise tax is levied on the buyers of a good, what proportion of the tax will be paid by the buyers?

Group of answer choices

25%

40%

60%

None of these

75%

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