A mobile phone selling company faces the following demand function. Qd = 50 - 3P The firm’s accountant believe that the

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A mobile phone selling company faces the following demand
function. Qd = 50 - 3P The firm’s accountant believe that the
supply function of the company is given by: Qs = 2P Where P denotes
price of a mobile phone in GH¢ and Qd and Qs are the quantities
demanded and supplied respectively.
 Requirement
: a. Determine the equilibrium price and quantity in the market
for the company.
b. Determine the total revenue for the company if the
equilibrium quantity is sold.
c. Calculate the total surplus in the market d. If the
government now decides to impose a tax of GH¢2 per unit on the
quantity supplied and the company adjusts the supply function to
include tax, i. Determine the new equilibrium price and quantity in
the market for the company.