Australian Government has imposed a tax on Beer. Assume that the tax on Beer is $20 per unit (a unit is a carton of drinks) Assume the demand and supply functions for cartons of Beers per week are: P=200 - 0.5Q and P=0.5Q.
Calculate the amount of tax revenue collected by the government and the distribution of tax payments between buyers and sellers.
Now so far i could do the following
since in equilibrium qty demanded equals qty. supplied. So from the demand and supply functions we get,
So P=0.5*200= 100
Now i get that after tax imposition the supply curve will move leftward, hence the equilibrium price will increase and quantity demanded/supply will decrease. Now please help me to calculate the amount of tax revenue and tax distribution.