The demand and supply functions of shirts are given by; Demand function: P = = 50 – 1.5Q Supply function: P = 22 + 2Q Using the information above; Find the equilibrium price and quantity ii. If a tax of GH¢10.00 per unit is imposed calculate the equilibrium price and quantity iii. The distribution of tax Analyse the introduction of price maximum of GH¢15 on shirt in the market ii. Calculate profit made by black marketers if black market operated in this market as a result of the introduction of price maximum of GH¢15 in the market

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A: The equilibrium is established when demand and supply are equal or Qs = Qd The Qs will undergo the…

Q: Its is known that the demand function for a product is P = 24 - 1/2Q and the supply function Q = 4 +…

A: P = 24 - 1/2Q   Q = 4 + 2P Equilibrium: Q=22 units, P= IDR13

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A: We are going to find the tax burden on consumer and producer to answer this question.

Q: Given the following information QD = 240 – 5P QS = P where QD is the quantity demanded, QS is the…

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A: Hello, thank you for the question. Since there are multiple subpart questions posted here, as per…

Q: Given the following information QD = 240 – 5P QS = P where QD is the quantity demanded, QS is the…

A: Question 2i: QD= 240 - 5P Qs = P Tax = $12 on sellers Equilibrium before tax: QD=Qs 240-5P = P 6P =…

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A:

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A: According to the question given that the supply and demand function for the market. QD = 240 – 5P QS…

Q: b) Suppose that in a certain market, the demand function for a product is given 10p + q = 3000 and…

A:

Q: Suppose that the demand and supply functions for a good are given as follows: Demand: Qº = 720 – 8P…

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Q: Part d, e

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A: We find the equilibrium Price and Quantity  after the tax levied -

Q: given the following information Qd=240 -5p and Qs= P Where Qd is the quantity demanded and Qs is the…

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Q: Suppose the following demand and supply function of a commodity.  Qd = 55 - 5P Qs = -50 + 10P…

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A: Market demand  Qd=472-4P Market supply Qs=3P Tax per unit =$10

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

A: The demand and supply are given and the tax rate charged on the sellers is given to be $12. Thus,…

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

A: Equilibrium is achieved where quantity supplied equals quantity demanded.

Q: . Now a tax of 1.5$ per unit is imposed on the manufacturer which he puts entirely on the price of…

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A: Tax burden of buyers = Es / (Es - Ed), where Ed: Elasticity of demand Es: Elasticity of supply

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Q: Its is known that the demand function for a product is P = 24 - 1/2Q and the supply function Q = 4 +…

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Q: The Health Ministry is evaluating the data of the soft beverages market.   Demand function:…

A: QD=270−4P QS=−70+4P     Equilibrium: QD = QS −70+4P = 270−4P P = 42.5  Thus, Q = 100    Consumer…

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Q: Suppose the following demand and supply function of a commodity.…

A: Given the demand and supply function. Qd = 55 - 5P Qs = -50 + 10P New supply after tax, Qs = -60 +…

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Q: Given the following information  Qd= 240 – 5p Qs = P Where Qd  is the quantity demanded, Qs is…

A: The equilibrium condition is where the demand equals to the supply that is,  Qd=Qs

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Q: The demand for a product is given by p + 2q = 250 and the supply by p - 4q = 100. a) Find…

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Q: The demand (D) and supply (S) function for a commodity are P =100 – 2Q and P = 10 + Q,…

A: a. Equilibrium price = $40 Equilibrium quantity = 30 b. Tax burden on demander = $2

Q: Part a, b, c

A: Hi, since you have posted a question with multiple sub parts, we will be answering only first three…

Q: B The demand and supply functions for a product are: Q=50-3P and Q, =-6+4P, respectively (1) Graph…

A: Given: Demand function: Qd = 50 - 3P Supply function: Qs = -6 + 4P