The demand and supply functions of a good are given by P = 3Q D + 48
Question:
The demand and supply functions of a good are given by
P = −3QD + 48
P = 1/2QS + 23
Find the equilibrium quantity if the government imposes a fixed tax of $4 on each good.
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The new supply equation is P4Qs 23 10 which rearr...View the full answer
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