Graph the demand and supply curves and solve for, Ask an Expert

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D(p) = 300 - 5 p for 0 less than or equal to p less than or equal to 60

S(p) = -60 +5p for 12 less than or equal to p less than or equal to 60

(a) Graph the demand and supply curves and solve for equilibrium price and quantity.

(b) find out CS, PS, and TS.

D(pB) = 300 - 5 pB for 0 less than or equal to p less than or equal to 60

S(pB) = -110 + 5 pB for 22 less than or equal to p less than or equal to 70

Graph the supply and demand curves and solve for pB and pS. What is the tax incidence for buyers and sellers?

(d) find out CS, PS, and tax revenue.

(e) find out the deadweight loss of the tax.

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Microeconomics, Economics

Category:- Microeconomics
Reference No.:- M968807

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