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please use this information for question 4.4 to answer 5.6 demand function for avocados is q=144-40p+20pt supply function is q=50+15p 5.6 Use the demand function

please use this information for question 4.4 to answer 5.6

demand function for avocados is q=144-40p+20pt

supply function is q=50+15p

image text in transcribedimage text in transcribed
5.6 Use the demand function and the supply function Is b for the avocado market (given in Question 4.4) to 0ce 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.)Use a supp buy outcome. lin- 4.4 The estimated monthly U.S. demand function for rice avocados is Q = 144 - 40p + 20p, where p is the and price of avocados and p, is the price of tomatoes, a rice substitute for avocados. The estimated supply func- tion is given in Question 2.1, where the price of the fertilizer, pf, is $0.40, so the supply function can be he written as Q = 50 + 15p. The initial price of toma- toes is 80c per 1b. Using algebra, determine the ini- tial equilibrium price and quantity of avocados, and n, then determine how price and quantity change if the

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