The supply equation for a certain product is q−250p+2000=0. The demand equation is 250p+q−5000=0. The price p is in dollars. a. find the equilibrium point as in Quantity (q) and Price (P) b. Suppose a tax of $1 per unit is imposed on the supplier. Find the new equilibrium point as in Quantity (q) and Price (P)
The supply equation for a certain product is q−250p+2000=0. The demand equation is 250p+q−5000=0. The price p is in dollars. a. find the equilibrium point as in Quantity (q) and Price (P) b. Suppose a tax of $1 per unit is imposed on the supplier. Find the new equilibrium point as in Quantity (q) and Price (P)
Chapter6: Systems Of Equations And Inequalities
Section6.2: Two-variable Linear Systems
Problem 9ECP
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The supply equation for a certain product is q−250p+2000=0. The demand equation is 250p+q−5000=0. The price p is in dollars.
a. find the equilibrium point as in Quantity (q) and Price (P)
b. Suppose a tax of $1 per unit is imposed on the supplier. Find the new equilibrium point as in Quantity (q) and Price (P)
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