Question: If the inverse demand function for books is p equals 6 8 minus Upper Qp = 6 8 Q and the supply function is Upper

If the inverse demand function for books is
p equals 68 minus Upper Qp=68Q
and the supply function is
Upper Q equals pQ=p,
what is the initial equilibrium? What is the welfare effect of a specific tax of
tau
=
$33?
Part 2
The initial equilibrium quantity is
3434
(round your answer to the nearest integer).
Part 3
The specific tax of
tau
=
$33
creates a deadweight loss of
$1.501.50
(round your answer to two decimal plac

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