Question 1 [25 Marks Consider the following microeconomic model. Qd = D(P,Y) [Dp <0; Dy > 0) Qs = D(P.T.) [Sp > 0; ST, <

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Question 1 [25 Marks Consider the following microeconomic model. Qd = D(P,Y) [Dp <0; Dy > 0) Qs = D(P.T.) [Sp > 0; ST, <

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Question 1 25 Marks Consider The Following Microeconomic Model Qd D P Y Dp 0 Dy 0 Qs D P T Sp 0 St 1
Question 1 25 Marks Consider The Following Microeconomic Model Qd D P Y Dp 0 Dy 0 Qs D P T Sp 0 St 1 (15.6 KiB) Viewed 76 times
Question 1 [25 Marks Consider the following microeconomic model. Qd = D(P,Y) [Dp <0; Dy > 0) Qs = D(P.T.) [Sp > 0; ST, <0] Where Y, is income and T, is the tax on the commodity. Analyse the comparative statics of the model to find the effect of change in Income and Tax on the equilibrium Q and P? 25 marks
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