Waec Model Questions Vol1 2019 Economics Question 50
Practice objective / multiple choice question 50 from the 2019 Waec Model Questions Vol1 Economics examination.
The market for cassava in a region is described by the demand function $Q_d = 500 - 2P$ and the supply function $Q_s = 3P - 60$, where $Q$ is quantity in tonnes and $P$ is price per tonne in naira. The government is considering imposing a per‑tonne tax of ₦30 on producers, which shifts the supply curve upward by the tax amount. Determine: (a) the equilibrium price and quantity before the tax; (b) the new equilibrium consumer price, producer price, and quantity after the tax; (c) the dead‑weight loss (DWL) caused by the tax. Round monetary values to the nearest naira and quantities to the nearest tonne.
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About This Question
This is Waec Model Questions Vol1 2019 Economics Question 50. It is one of the objective questions from the 2019 Waec Model Questions Vol1 Economics examination.
Difficulty level: Hard .
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