What is the price paid by the consumer before the tax
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Consider a mineral that is in fixed supply, QS = 4. The demand for mineral is given byQD= 10-2p, where p is the price per pound and QD is the quantity demanded. The government imposes a tax of $2 per pound on the consumer.a. What is the price paid by the consumer before the tax is imposed, and in the post- tax equilibrium?
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