Please answer c,d,f please answer fast I will rate for you sure.... The demand and supply curves for a product are given byq=2700-30p andrespectively, where p is the price and q is the quantity of the product.(a) Find the equilibrium price and quantity.P= 60q= 900(b) A sales tax of 8% is imposed on consumers. Find the new equilibrium price and quantity.P= 58.01q= 820.4(c) How much tax is paid on each unit?Tax per unit: $q=40p - 1500,(d) At the new equilibrium price and quantity, how much of the tax is paid by consumers, and how much by producers?By consumers: $By producers: $(e) What is the total tax revenue received by the government?Tax revenue = $⠀⠀

The concept of supply and demand in economics refers to the link between the quantity of a good or…

Answered: he demand and supply curves for a produ…

Microeconomic Theory

12th Edition

ISBN:9781337517942

Author:NICHOLSON

Publisher:NICHOLSON

Chapter12: The Partial Equilibrium Competitive Model

Section: Chapter Questions

Problem 12.10P

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he demand and supply curves for a produ are given by respectively, where p is the price and q is the quantity of the product. (a) Find the equilibrium price and quantity. P= 60 q=2700-30p and q = 40p - 1500, 9900