1. Given the following information Qp = 240 – 5P Qs = P Where Qp is the quantity demanded , Qs is the quantity supplied and P is the price.

Exploring Economics
8th Edition
ISBN:9781544336329
Author:Robert L. Sexton
Publisher:Robert L. Sexton
Chapter4: Demand, Supply, And Market Equilibrium
Section: Chapter Questions
Problem 25P
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based on the attached equation find:

(a) Equilbrium price before the tax
(b) Equilbrium quanity before tax

1. Given the following information
Qp = 240 – 5P
Os = P
%3D
Where Qp is the quantity demanded , Qs is the quantity supplied
and P is the price.
Transcribed Image Text:1. Given the following information Qp = 240 – 5P Os = P %3D Where Qp is the quantity demanded , Qs is the quantity supplied and P is the price.
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