Given the demand and supply functions by: p + q²= 1000 and p- 25q = 50, respectively. If a $50 tax is placed on each unit of the product. The new equilibrium price is

College Algebra
10th Edition
ISBN:9781337282291
Author:Ron Larson
Publisher:Ron Larson
Chapter6: Systems Of Equations And Inequalities
Section6.2: Two-variable Linear Systems
Problem 9ECP
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Given the demand and supply functions by: p + q²= 1000
and p-25q = 50, respectively. If a $50 tax is placed on
each unit of the product. The new equilibrium price is
Transcribed Image Text:Given the demand and supply functions by: p + q²= 1000 and p-25q = 50, respectively. If a $50 tax is placed on each unit of the product. The new equilibrium price is
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