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Suppose the demand for a product is given by P = 50 - Q

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Suppose the demand for a product is given by P = 50 - Q. Also, the supply is given by P = 10 + 3Q.

If a $12 per-unit excise tax is levied on the buyers of a good, what proportion of the tax will be paid by the buyers?

a. 75%

b. 20%

c. 0%

d. None of these

e. 40%