Question
Mario and Sam are the only two consumers in the market for Pineapples.Mario demand function is given by Q = 30 - 10P while Sam's
Mario and Sam are the only two consumers in the market for Pineapples.Mario demand function is given by Q = 30 - 10P while Sam's demand function is given by Q = 30 - 5P . Which of the following functions describes the total market demand curve when P is between 3 and 4:
A.) Q =60-15P
B.) P = 6 - 0.2Q
C.) Q =90-50P2
D.) P = 1/60-1/15Q
The market for banana has a vertical supply curve at 100 banana and a linear, downward-sloping demand curve. The current market price for banana is $2 and all the bananas are sold at this price. Suppose the government imposes supplier a 50 cents tax on each banana sold. What's the total deadweightloss caused by this tax?
- $0
- $50
- $150
- $200
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