Suppose that the demand and supply functions of pineapples are given by Qd = 2000 400P,
Question:
Suppose that the demand and supply functions of pineapples are given by Qd = 2000 − 400P, Qs = 1600P.
(a) Find the equilibrium price and quantity.
(b) Find the equilibrium price and quantity after the local government imposes a 20/c sales tax on pineapples.
(c) Find the equilibrium price and quantity if there is a 20/c excise tax on growers instead of the sales tax.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answered By
Sinmon Warui Kamau
After moving up and down looking for a job, a friend introduced me to freelance writing. I started with content writing and later navigated to academic writing. I love writing because apart from making a living out of it, it is also a method of learning and helping others to learn.
40+ Reviews
45+ Question Solved
Related Book For 
Managerial Economics A Mathematical Approach
ISBN: 9781118091364
1st Edition
Authors: M. J. Alhabeeb, L. J. Moffitt
Question Posted:
