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The market for skateboards has demand and supply functions, respectively, Q subscript D left parenthesis P subscript D right parenthesis equals 1000 minus 4 P
The market for skateboards has demand and supply functions, respectively, Q subscript D left parenthesis P subscript D right parenthesis equals 1000 minus 4 P subscript D comma Q subscript S left parenthesis P subscript S right parenthesis equals 20 P subscript S minus 200. Calculate the welfare-maximizing equilibrium price and quantity. Round answers to 2 decimals/nearest penny where applicable. space P to the power of equals___ Q to the power of equals___ A $12 (unit) tax is implemented in the market. Calculate the market clearing prices and quantity. Round answers to 2 decimals/nearest penny where applicable. P subscript D superscript t equals ___ P subscript S superscript t equals ___ Q to the power of t equals ___ This tax creates consumer, producer, and social burdens (dead-weight loss) of... capital delta space C S equals ___ capital delta space P S equals ___ capital delta space W space left parenthesis D W L right parenthesis equals ___
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