Question

8. Consider a market with the following demand and supply curves: Qd = 100 - 2p a. Calculate equilibrium price and quantity. o, 60 2's = 3p b. At the equilibrium, find the elasticity of demand and supply and compare. c. At this equilibrium, calculate the producer's surplus, consumer's surplus and total surplus. I suppose the government would like to decrease the quantity traded in the market by los.. Calculate the tax that will have to be imposed pen unit? e. Calculate the deadweight loss due to tax calculated in paut d