Question 1 [24 points] Suppose the weekly demand for a certain good in thousands of units, is given by the equation P = 32 - Q, and the weekly supply curve of the good by the equation P = 8 + 3Q where P is the price in dollars. Finally, suppose a per-unit tax of $12, to be collected from sellers is imposed in this market. Complete the following questions. Note: If necessary round your answers to two decimal places. a) Graph the weekly demand, supply (pre-tax), and supply (post-tax) equations. A Dominique Art * \\Ci eConcordia - 1: * \\Ly Principles of My * ) Ly Lab S Bluestic * \\3 43-1000-20 - x 4 - important Downloads - lyryx PRINT HELP Lab 5 (Question 1) Name Nicholas Pannunno Date: 2016-10- 16 12:06 Question 1 [24 points] Suppose the weekly demand for a certain good in thousands of units, is given by the equation P= 32 - Q, and the weekly supply curve of the good by the equation P= B + 30 where P is the price in dollars. Finally, suppose a par-unit tax of $12, to be collected from sellers is imposed in this market. Complete the following questions Note: If necessary mund your answers to two decimal places al Graph the weekly demand, supply (pro-tax), and supply (post-tax) equations. Your Graph Correct Graph Price (5) 19,18) econ 201 lab 16 8 10 12 14 16 18 Quantity (thousands of units/wook) 10 12 14 16 18 Quantity (thousands of units/week) by What is the equilibrium price before the tax? Equilibrium Price = $0 OAsk me anything emo 1:08 PM M: CO -EN 16/2016