Description of this paper

Suppose demand and supply are given

Description

solution


Question

Suppose demand and supply are given by;Qdx = 7 - ?Px and Qsx = ?Px -?;a Determine the equilibrium price and quantity. Show the equilibrium graphically.;b Suppose a $6 excise tax is imposed on the good. Determine the new equilibrium price and quantity.;c How much tax revenue does the government earn with the $6 tax?

 

Paper#26320 | Written in 18-Jul-2015

Price : $22
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