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Question 16 2 pts These next ve problems consider tax incidence. Suppose the market supply and demand for guitars in Happy Valley are given by:

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Question 16 2 pts These next ve problems consider tax incidence. Suppose the market supply and demand for guitars in Happy Valley are given by: Demand: P = 300 (1/2}Q Supply: P = 100 + (1/3}Q What is the equilibrium price and quantity of the product? 0 P" = 120, Q' = 1200 P" = 180, Q\" = 240 O P" = 60, Q" = 430 O P" = 225, Q\" = 150 0 none of the above

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