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Original Demand: P = 980 + (-4 Q)
Original Supply: P = 313 + 6 Q
An ad valorem tax of 29% is on demand.
After-tax Demand: P = 759.68992248062 + (-3.1007751937984 Q)
After-tax Supply: P = 313 + 6 Q
Market price: P = 713.2
Market quantity: Q = 66.7
Taxed price: P = 607.49574105622
Taxed quantity: Q = 49.08262350937
Total tax consumer pay: 3458.8282300497
Total tax producer pay: 5188.2423450746
Dead weight loss: DWL = 1551.8597720631