Suppose buyers must pay a tax of t 6unit. determine the, Ask an Expert

Economics

Suppose supply is P = 40 + Q while demand is P = 45 - Q/2.

a. Find the equilibrium price and quantity.

b. Suppose buyers must pay a tax of T = 6/unit. Determine the quantity exchanged, and prices for buyers and sellers.

c. How is the tax burden split between buyer and seller?

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Microeconomics, Economics

Category:- Microeconomics
Reference No.:- M970620

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