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You are a jewelry maker making custom necklaces that sell in boutiques and high-end stores. Here are the demand function and supply function for your
You are a jewelry maker making custom necklaces that sell in boutiques and high-end stores. Here are the demand function and supply function for your necklaces in your current market: QD = 180 - 4*P QS = 12 + 2*P You have just discovered that the state government is imposing a luxury tax on jewelry, and this will include your necklaces, and it is a tax that is paid by the seller (as we discussed in the videos). In your case, the tax is $12 per unit (that is, for every necklace you sell you hand over $12 to the government.) Use the procedure we went through in the videos to answer this question: What is the quantity of necklaces that will be bought and sold in the market after the tax has been imposed
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