Question: . 4. (6 points) The demand and supply equations for a particular product are given by 94 = --2p+-30 and q. = p - 1.

. 4. (6 points) The demand and supply equations for a particular product are given by 94 = --2p+-30 and q. = p - 1. (a) What is the point of equilibrium? (b) If there is a 2% tax added on the consumer, what is the new equilibrium point? a . 4. (6 points) The demand and supply equations for a particular product are given by 94 = --2p+-30 and q. = p - 1. (a) What is the point of equilibrium? (b) If there is a 2% tax added on the consumer, what is the new equilibrium point? a

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