Neco 2020 Economics Question 33
Practice objective / multiple choice question 33 from the 2020 Neco Economics examination.
City authorities impose a per‑ride tax of \(\text{₦}50\) on taxi services. The demand for taxi rides (per day) is described by \(Q = 2000 - 10P\), where \(P\) is the fare paid by passengers (including the tax). The marginal cost of providing a ride is constant at \(\text{₦}30\). Calculate the dead‑weight loss (in Naira) that results from the tax.
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About This Question
This is Neco 2020 Economics Question 33. It is one of the objective questions from the 2020 Neco Economics examination.
Difficulty level: Hard .
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