Calculate equilibrium quantity. now suppose that the, Ask an Expert

Economics

Suppose that demand and supply for a certain product X in a competitive market are given by
Dx=100-2Px & Sx=10+Px

1) Calculate equilibrium quantity

2) Now suppose that the government imposes a tax on consumers of $1 per unit. Recalculate the prices for consumers and producers, and the quantity sold.

3) Show that a $1 per unit tax on suppliers instead if on consumers would lead to the same new equilibrium.

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M9442770

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