(a) Find the equilibrium price and quantity of the government imposing a fixed tax of $36.   

  

   (b) Find the corresponding value of the government's tax revenue.    

 

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5. The supply and demand equations of a good are given by P=Qs +8 P = -3QD + 80 where P, Q, and QD denote price, quantity supplied and quantity demanded respectively. 5. The supply and demand equations of a good are given by P=Qs +8 P = -3QD + 80 where P, Q, and QD denote price, quantity supplied and quantity demanded respectively.

Answer rating: 100% (QA)

Solution P 9 8 ion a Supply equation is P 30 80 Dem... View the full answer