Given the following information (iv) Impact on Quantity? QD = 240-5P QS= P Where QD is the quantity demanded, Qs is the quantity supplied and P is the price. What is the Equilibrium price before tax?

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A: (i) Quantity demand = quantity supply with the price = $12 Quantity demand = 6360 - 400 (12) = 1560…

Q: Impact on Quantity? QD = 240-5P QS= P Where QD is the quantity demanded, Qs is the quantity…

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Q: Given the following information QD = 240-5p QS = P Where QD is the quantity demanded, Qs is the…

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Q: Impact on Quantity? QD = 240-5P QS= P Where QD is the quantity demanded, Qs is the quantity…

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A: Equilibrium occurs where demand equals supply in a market.