Question: 2. Let the direct demand function be D(p), Where p is the price paid by consumers and D' (p) 0. Let suppliers pay a perunit

2. Let the direct demand function be D(p), Where p is the price paid by consumers and D' (p) 0. Let suppliers pay a perunit tax of 75 so that p5 = 1915. The equilibrium condition implicitly denes p(t). (i) Find and expression for p'(t) and sign it. Does p increase by the amount of the tax? (ii) Find an expression for p'8(t) and sign it

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