Question: 36. Equilibrium prices are and quantities are determined by D1 = 1,000 - 100p, and S1 = 200p1 - 200 in the market for Good

 36. Equilibrium prices are and quantities are determined by D1 =

36. Equilibrium prices are and quantities are determined by D1 = 1,000 - 100p, and S1 = 200p1 - 200 in the market for Good 1 and by D2 = 400 + 200p1 - 200p2 and $2 = 200p2 in the market for Good 2. a. Provide a diagram showing the equilibrium price and quantity in the market for Good 1 and a second diagram showing the equilibrium price and quantity in the market for Good 2. b. Next month the government will introduce a t = 3 per unit tax in the market for Good 1 (not Good 2). Update your diagrams to show and quantify how prices and quantities will be affected in both markets

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