Gce Model Questions Vol1 2022 Economics Question 45
Practice objective / multiple choice question 45 from the 2022 Gce Model Questions Vol1 Economics examination.
In the market for oranges the demand curve is \(Q_{d}=1000-2P\) and the supply curve is \(Q_{s}=4P-200\), where \(P\) is the price in Naira per kilogram and \(Q\) is quantity in kilograms. The government introduces a specific tax of \(\text{₦}30\) per kilogram on sellers. What is the price paid by consumers and the price received by producers after the tax?
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About This Question
This is Gce Model Questions Vol1 2022 Economics Question 45. It is one of the objective questions from the 2022 Gce Model Questions Vol1 Economics examination.
Difficulty level: Easy .
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