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please answer nment questions: (a) The demand (D) and supply (S) equations for a commodity (X) are given by:- D= 2000 - 20P I S

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nment questions: (a) The demand (D) and supply (S) equations for a commodity (X) are given by:- D= 2000 - 20P I S = -500 + 30P, where P = Price (R) per unit (i) Find the equilibrium price and quantity and show on a suitable diagram. (4 marks) (ii) Calculate Price Elasticity of Demand (PED) when price rises from R20 to R80. (2 marks) (iii) A specific sales tax of R30 per unit is imposed on the good. Explain and illustrate the changes to part (i). (3 marks) (iv) Comment on the burden of the tax

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