In a competitive market industry demand is given by: P = 400 -.5Q Supply in this market is given by: P = 100 + .2Q a. Fi

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answerhappygod
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In a competitive market industry demand is given by: P = 400 -.5Q Supply in this market is given by: P = 100 + .2Q a. Fi

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In a competitive market industry demand is given by: P = 400-.5QSupply in this market is given by: P = 100 + .2Q
a. Find the market equilibrium price and output
b. If the government imposes a $30 per-unit tax on all suppliers inthis market. What is the newequilibrium?
c. Do demanders or suppliers bear the economic cost of thistax?
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