The demand and supply functions of a good are given by P = 3Q D + 48

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The demand and supply functions of a good are given by
P = −3Q_D + 48
P = 1/2Q_S + 23
Find the equilibrium quantity if the government imposes a fixed tax of $4 on each good.

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Mathematics for Economics and Business

ISBN: 978-1292191669

9th edition

Authors: Ian Jacques

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Question Posted: Apr 18, 2019 08:43 AM

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The demand and supply functions of a good are given by P = 3Q D + 48

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The new supply equation is P4Qs 23 10 which rearr...View the full answer

Mathematics for Economics and Business

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