Question: Mathematics. E+ Complete 2 / 3 100% + 1. (a) The supply and demand functions for a market are q'(p) = 2 -1 and q(p)

Mathematics.

Mathematics. E+ Complete 2 / 3 100% + 1. (a) The supply

E+ Complete 2 / 3 100% + 1. (a) The supply and demand functions for a market are q'(p) = 2 -1 and q(p) = 11 - jp. Find the equilibrium price and quantity. The government imposes an excise (or per unit) tax of T on the market. Find the new equilibrium price and quantity. What percentage of the tax per unit has been passed onto the consumer? Write down an expression for the government's tax revenue. What value of T will maximise this revenue? (b) The elasticity of demand for a good is given by 3p E(P) - 2 + 3p + 2 Find the demand function, q" (p), for this good if g? (1) = 27. 6 0 12:14 M

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