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Daily demand for petrol at Billy-Ray?s Mobile Station

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Daily demand for petrol at Billy-Ray?s Mobile Station is described by Q = 980 ? 300p, where Q are litres of petrol sold and p is the price in dollars. Billy-Ray?s supply is Q = ?2,980 + 3,000p. Suppose the regional council places a tax of 18 cents on every litre of petrol sold.;What is the price of petrol before local government intervention? (Round your answer to 2 decimal places.);What is the market price of petrol after local government intervention? (Round your answer to 2 decimal places.);What is the price of petrol that Billy Bob will receive after local government intervention? (Round your answer to 2 decimal places.)

 

Paper#26859 | Written in 18-Jul-2015

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