The estimated demand function for coffee is Q = 12 - p (Equation 2.3), and the estimated

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The estimated demand function for coffee is Q = 12 - p (Equation 2.3), and the estimated supply function is Q = 9 + 0.5p (Equation 2.7).

a. Write equations for the equilibrium price and quantity as a function of a specific tax t.

b. What are the equilibrium price and quantity and the tax incidence on consumers if t = $0.75? M

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Microeconomics Theory And Applications With Calculus

ISBN: 978-0134167381

4th Edition

Authors: Jeffrey M. Perloff

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Question Posted: Jul 11, 2018 06:53 AM

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The estimated demand function for coffee is Q = 12 - p (Equation 2.3), and the estimated

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a Demand is Q 12 p t and supply is Q 9 05p t Setting quantity supplie...View the full answer

Microeconomics Theory And Applications With Calculus

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