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18. [-I1 Points] DETAILS HARMATHAP12 1.6.058.MI. MY NOTES ASK YOUR TEACHER PRACTICE ANOTHER Suppose that in a certain market the demand function fora product is

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18. [-I1 Points] DETAILS HARMATHAP12 1.6.058.MI. MY NOTES ASK YOUR TEACHER PRACTICE ANOTHER Suppose that in a certain market the demand function fora product is given by 10;: + q = 2,100 and the supply function is given by 50p q = 1,350. (Assume price is measured in dollars.) If the government levies a tax of $3 per item, find the equilibrium point after the tax is levied. The tax is added to the selling price of the product. mi ) Need Help? @@ 19. [12 Points] DETAILS HARMATHAP12 1.6.055.EP. MY NOTES ASK YOUR TEACHER PRACTICE ANOTHER Suppose that a certain product has the following demand and supply functions. Demand: p Sunplw p 0.o4q + 95 0.04:; + 20 A $5 tax per item is levied. Determine the supply function when tax is added. p: Find the market equilibrium point after the tax. Wi )

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