Suppose the demand and supply functions for a product are respectively, where p is in dollars and

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Suppose the demand and supply functions for a product are respectively, where p is in dollars and q is the number of units. Find the tax per unit t that will maximize the tax revenue T, and find the maximum tax revenue.

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Mathematical Applications for the Management Life and Social Sciences

ISBN: 978-1305108042

11th edition

Authors: Ronald J. Harshbarger, James J. Reynolds

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Question Posted: Feb 09, 2018 07:11 AM

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Suppose the demand and supply functions for a product are respectively, where p is in dollars and

Question:

and p= 400 + 2q p= 2800 – 8q 3

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After taxation the supply function is p 40...View the full answer

Mathematical Applications for the Management Life and Social Sciences

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