Question: Given the demand and supply functions, Pd= 120 - 3Q and Ps= 5Q + 24, respectively. If the government decides to impose a tax of

Given the demand and supply functions, Pd= 120 - 3Q and Ps= 5Q + 24, respectively. If the government decides to impose a tax of $t per good and the new equilibrium price is $87, find t.

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