Gce Model Questions Vol1 2019 Economics Question 7
Practice objective / multiple choice question 7 from the 2019 Gce Model Questions Vol1 Economics examination.
The domestic market for a good has demand \( Q_{d}=500-2P \) and supply \( Q_{s}=3P \). The world price is ₦40. The government introduces a specific tariff \( t \) per unit. (a) Find the tariff that yields government revenue of exactly ₦1,800. (b) Using that tariff, calculate the dead‑weight loss to the economy.
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About This Question
This is Gce Model Questions Vol1 2019 Economics Question 7. It is one of the objective questions from the 2019 Gce Model Questions Vol1 Economics examination.
Difficulty level: Medium .
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