Question
The supply function for a product is 2p-q-10=0, while the demand function for the same product is (p+10)(q+30)=7200. If a $22 tax is placed on
The supply function for a product is 2p-q-10=0, while the demand function for the same product is (p+10)(q+30)=7200. If a $22 tax is placed on production of the item, then the supplier passes this tax on by adding $22 to his selling price. Find the new equilibrium point for this product when the tax is passed on.
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Advanced Engineering Mathematics
Authors: ERWIN KREYSZIG
9th Edition
0471488852, 978-0471488859
