Answered: The function of demand and supply of…

The function of demand and supply of goods P = 14 - 2Q and P = 5 + 2Q. When against goods are taxed at t = 2 per unit, then calculate: d. What is the amount of subsidies issued by the government.

Survey Of Economics

10th Edition

ISBN:9781337111522

Author:Tucker, Irvin B.

Publisher:Tucker, Irvin B.

Chapter4: Markets In Action

Section4.2: Can The Laws Of Supply And Demand Be Repealed?

Problem 1YTE

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The function of demand and supply of goods
P = 14 - 2Q and P = 5 + 2Q. When against
goods are taxed at t = 2 per unit, then calculate:

d. What is the amount of subsidies issued by the government.

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ANSWER E 2. The function of supply and demand for an item P = 14 - 2Q and P = 5 + 2Q. When againstthe goods are subject to tax of t = 2 per unit, then calculate:A. The point of market equilibrium after tax.b. Tax burden borne by consumers and producers.c. And if the item is given a subsidy of s = 1, determine itnew market balance.d. What is the amount of subsidies issued by the government.e. Draw the curve.