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The inverse demand function for mangos is defined by the equation p = 91 - 5q, where q is the number of crates that are sold. The inverse supply function is defined by p = 3 + 6q. In the past there was no tax on mangos but now a tax of $44 per crate has been imposed. Illustrate what are the quantities produced before and after the tax was imposed?

Suppose the National Bank of Commerce has excess reserves of $16,000 and outstanding checkable deposits of $150,000. If the reserve ratio is 20 percent, what is the size of the bank's actual reserves?

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M9223067

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