Consider the market for pork illustrated in the graph. Suppose initial demand (D') is Q = 290 – 20p and supply (S') is Q = 80 + 40p and that a $3.00 tax is charged to consumers, shifting the demand curve to D. Using the original and after-tax pork demand functions and the supply function, derive the initial equilibrium price and quantity and the after-tax equilibrium price and quantity. (Enter all responses using real numbers rounded to two decimal places) P1 P2 ey. The equilibrium price is initially $ 3.5 per kg. After the tax, the new equilibrium price is $ per kg. D2 Q, Q1 Q, Million kg of pork per year D1 22 étv OCT 2 6N Jad s 'd

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A: (iii) dpdt=0.5(qD-qS)=0.5(30-2p-2N)=-p-N+15       dpdt=-p-N+15        dNdt=54(p-10)=5p4-252

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