Question: Math 9. Suppose that in a certain market the demand function for a product is given by 10p + q = 2,600 and the supply

Math

9. Suppose that in a certain market the demand function for a product is given by 10p + q = 2,600 and the supply function is given by 50p - q = 800. (Assume price is measured in dollars. ) If the government levies a tax of $4 per item, find the equilibrium price and quantity after the tax is levied. The tax is added to the selling price of the product. Write answers in context. (10 points)

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