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Please use these equations to work 5.6 attachmentDemandQ=144-40p+20ptSupplyQ=50+15pEquilibrium price is 2 and quantity is 80Please show see question in attachment 5.6 Use the demand function

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Please use these equations to work 5.6 attachmentDemandQ=144-40p+20ptSupplyQ=50+15pEquilibrium price is 2 and quantity is 80Please show see question in attachment

image text in transcribed
5.6 Use the demand function and the supply function for the avocado market (given in Question 4.4) to determine how the equilibrium price and quantity change when a 554 per lb specific tax is imposed on this market. (Hint: See Figure 2.9.)

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