Price Theory Questions Q1. Consumers demand 44 units of a given product when the price is $2 per unit and 35 units when the price is $5 per unit. On the other hand the seller supplies 40 units at $10 per unit and 15 units at $5 per unit. a) Determine demand and supply functions b) Determine the equilibrium price and quantity c) Suppose the government imposes a tax of $2 per unit. Find the new equilibrium price and quantity; show how the tax burden is shared between consumers and sellers (per unit)