In a competitive market industry demand is given by: P = 400 -.5Q Supply in this market is given by: P = 100 + .2Q a. Fi
Posted: Wed Jul 06, 2022 6:22 pm
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?
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?