What effect will the tax have on price monopolist charges, Microeconomics

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What effect will the tax have on price monopolist charges

Problem

A local video rental monopolist faces the weekly demand function D(P) = 1,000 - 50P. The marginal cost of a rental is $1. Suppose the town government places a $1 tax on all video rentals. What effect will the tax have on the price the monopolist charges? What will be the pass-through rate?

The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.

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Microeconomics: What effect will the tax have on price monopolist charges

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