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Suppose that the demand function for aluminum is: Q = 40 - 0.4p. where p is the price paid by consumers in dollars per pound
Suppose that the demand function for aluminum is: Q = 40 - 0.4p. where p is the price paid by consumers in dollars per pound and Q is the quantity demanded measured in pounds. The supply curve for aluminum is estimated to be: Q = 0.1p, such that n =1. The pretax equilibrium price is $ 80.00 (round your answer to the nearest penny). The pretax equilibrium quantity is 8.00 (rounded to two decimal places). If a $20 tax per pound is placed on aluminum, the price paid by consumers would be $|:| (round your answer to the nearest penny)
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