Suppose that a certain product has the following demand and supply functions. Demand: p = -0.05q +
Question:
Demand: p = -0.05q + 65
Supply: p = 0.05q + 10
If a $5 tax per item is levied on the supplier and this tax is passed on to the consumer, find the market equilibrium point after the tax?
Problems involve market equilibrium after taxation.
Use the following figure to answer Problems.
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Related Book For 
Mathematical Applications for the Management Life and Social Sciences
ISBN: 978-1305108042
11th edition
Authors: Ronald J. Harshbarger, James J. Reynolds
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