(Answered) Question - consider the following original demand-supply

Economics

Question - Consider the following original demand-supply functions, where:

Demand: P = 65 - Q

Supply: P = 15 + Q

1. Original equilibrium price is?

2. Original equilibrium quantity is?

Further consider a tax of 5 per unit of output and a new supply function:

3. The new consumer price after the imposition of tax is?

4. The new quantity after the imposition of tax is?

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Microeconomics, Economics

Category:- Microeconomics
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