Suppose that for a certain product the supply and demand functions prior to any taxation are Supply:
Question:
Supply: p = q/10 + 8
Demand: 10p + q = 15
If a tax of $2 per item is levied on the supplier and is passed on to the consumer as a price increase, find the market equilibrium after the tax is levied?
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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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