Question: Using the equations shown below, answer the following questions. QD = a - bP QS = c + dP a. What is the equilibrium price

Using the equations shown below, answer the following questions. QD = a - bP QS = c + dP a. What is the equilibrium price and quantity in this market? b. Assuming a tax of T is imposed on the seller side, what is the equilibrium price and quantity after the tax? c. What is the effective price the sellers receive?

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