The demand and supply curves for a product are given by
q=2900-20p and q=30p-1200
Find the eq...
Mathematics, 18.10.2020 15:01 yashajanjan8550
The demand and supply curves for a product are given by
q=2900-20p and q=30p-1200
Find the equilibrium price and quantity (which I got). p=82, q=1260.
(b) A specific tax of $4 is imposed on suppliers. Find the new equilibrium price and quantity.
(c) At the new equilibrium price and quantity, how much of the $4 tax is paid by consumers, and how much by producers?
(d) What is the total tax revenue received by the government?
Answers: 2
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