Demand and supply in a market are described by the equations: Q=120-8P Q=-6+4P a) Find equilibrium P and Q b) What are the equilibrium P and Q if there 4.5$ tax per unit.
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- A competitive market with the following supply and demand curves is in equilibrium. Supply: p^s=20+2Q, Demand: p^d=110−Q --> Q^e=30 and p^e=$80 If the government imposes a tax of $15 per unit on the sellers in this market, what share of the tax burden will the buyers bear?The market demand and supply functions for a good are: QD = 260 - 50P and QS = -40 + 10P. The equilibrium quantity and price are 10 and €5 respectively.Suppose the government imposes a tax of €0.60 per unit. The price paid by consumers after the tax will be €5.10€5€5.60€4.60Given the following information Q = 240 - 5P Qs =P where is the quantity demanded, Qs is the quantity supplied and P is the price. Suppose that the government decides to impose a tax of 512 per unit on sellers in this market. Determine: Demand and Supply equation after the tax.
- Consider a market where the demand and supply for the good are described by the following equations: QD= 225-3P and QS=-22.5 +1.5P If there is a $3 per unit tax on the good, what is the revenue from the tax?Algebraically, solve for the after tax equilibrium price and quantity in the corn market, if the government collects a specific tax of t=$2.40 from customers. The before-tax linear demand function for U.S. corn is given as Q=15.6-0.5p and the original supply curve is given as Q=9.6+0.25p. Please show with a diagram.Given the following information Q = 240 - 5P Qs =P where is the quantity demanded, Qs is the quantity supplied and P is the price. Suppose that the government decides to impose a tax of 512 per unit on sellers in this market. Determine the producer surplus after tax
- Suppose the following demand and supply function of a commodity. 15 Qd = 55 - 5P Qs = -50 + 10P After imposing tax, the new supply function is Qs = -60 + 10P Find out the equilibrium price and quantity before tax.Given the following information Q = 240 - 5P Qs =P where is the quantity demanded, Qs is the quantity supplied and P is the price. Suppose that the government decides to impose a tax of 512 per unit on sellers in this market. Determine the buyer's price after tax and seller's price after taxGiven the following information QD = 240-5P QS= P Where QD is the quantity demanded, Qs is the quantity supplied and P is the price. Suppose the government decides to impose a tax of $12 per unit on sellers in this market. Determine the seller’s price after tax.
- Given the following information QD = 240-5P QS= P Where QD is the quantity demanded, Qs is the quantity supplied and P is the price. Suppose the government decides to impose a tax of $12 per unit on sellers in this market. Determine the quantity after tax.Suppose the demand for a product is given by P = 100 – 2Q. Also, the supply is given by P = 20 + 6Q. If an $8 per-unit excise tax is levied on the buyers of a good, what proportion of the tax will be paid by the buyers?. Group of answer choices 75% 40% 60% None of these 25%In a competitive market the equilibrium price, P, and quantity, Q, are found by setting QS = QD = Q in the supply and demand equations: P=aQS +b(a>0,b>0) P=−cQD +d(c>0,d>0) A) If the government levies an excise tax, t, per unit, show that: Q=d-b-t/a+c B)Deduce that the government’s tax revenue, T = tQ, is maximised by takingt=d-b/2