Question: What is the initial equilibrium quantity? Text Exercise 5.1 If the inverse demand function for books is p= 70- Q and the supply function is

What is the initial equilibrium quantity?

Text Exercise 5.1 If the inverse demand function for books is p= 70- Q and the supply function is Q = P, what is the initial equilibrium? What is the welfare effect of a specific tax of t = $4? The initial equilibrium quantity is (round your answer to the nearest integer)

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