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Given a demand curve of P = 70 - 1.5Q and a supply curve of P = 2 + 0.5Q, with a tax of 44, solve for the resulting CS (Answer 1) and PS (Answer 2).

Microeconomics

13th Edition

ISBN:9781337617406

Author:Roger A. Arnold

Publisher:Roger A. Arnold

Chapter6: Elasticity

Section6.4: The Relationship Between Taxes And Elasticity

Problem 3ST

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Given a demand curve of P = 70 - 1.5Q and a supply curve of P = 2 + 0.5Q, with a tax of 44, solve for the resulting CS (Answer 1) and PS (Answer 2).

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