Question: Suppose the demand function for avocados is Q = 104 - 40p + 20p, + 0.01Y, : where p is the price of avocados, p,

 Suppose the demand function for avocados is Q = 104 -

Suppose the demand function for avocados is Q = 104 - 40p + 20p, + 0.01Y, : where p is the price of avocados, p, is the price of tomatoes, and Y is average income, and the supply function for avocados is Q=58 + 15p - 20pf, where p, is the price of fertilizer. Suppose p. = $0.80, Y = $4,000, and pr = $0.40. What is the equilibrium price and quantity of avocados? The equilibrium price of avocados is P = $2 and the equilibrium quantity is Q - 80 units. (Enter your responses rounded to two decimal places.) Suppose the government charges a $2.20 specific tax per avocado to be paid by consumers. With the tax, the equilibrium price of avocados is P= $ and the equilibrium quantity is Q - units

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