Suppose that in a certain market the demand function for a product is given by  10p + q = 2,100  and the supply function is given by  50p − q = 50.  (Assume price is measured in dollars.) If the government levies a tax of $5 per item, find the equilibrium point after the tax is levied. The tax is added to the selling price of the product. (q, p) =

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A: Suppose that the demand for a product is given by q2p=6,000, where q represents the number of units…

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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

Q: Consider a competitive market in which price adjusts to excess demand or supply a enter and exit the…

A: (i) Given,                                   dpdt=0.5(qD-qs)                    (1)Where,…

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Q: 5. Suppose that the inverse demand and inverse supply functions are pp = 10- 2x and ps = 4 + 2√x,…

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A: Given: Demand(p)= 1200 - 2x Supply(p) = 200 + 2x Cost(C(x)) = 12000x +50 + x.

Q: the supply and demand functions of a given product QS is x2 + 14x + 22  and QD = -x2 - 10x = 150,…

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Q: Suppose that in a certain market the demand function for a product is given by 10p + q = 2,100 and…

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Q: 5. Suppose that the inverse demand and inverse supply functions are pp = 10- 2x and ps = 4 + .2√x,…

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A: Refer to the figure shown below:

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Q: equilibrium point for the market.

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Q: A small business assumes that the demand function for one of its new products can be modeled by  p =…

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Q: Consider a competitive market in which price adjusts to excess demand or supply and firms enter and…

A: iv) Given system of differential equations are        dpdt=0.5qD-qSdNdt=54p-10 Substituting qD=30-2p…

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A: Here AS PER POLICY I HAVE CALCULATED FIRST MAIN QUESTION