assuming interest rates of 5% per annum? (b) The demand and supply functions of a good are given by 4P =-Qa+ 102 5P = Q, + 6 where P, Qa, and O, denote the price, quantity demanded, and quantity supplied, respectively. (i) Determine the equilibrium price and quantity. (i) Determine the effect on the market equilibrium if the government decides to impose a fixed tax of GH¢9 on each good. Who pays the tax?

assuming interest rates of 5% per annum? (b) The demand and supply functions of a good are given by 4P =-Qa+ 102 5P = Q, + 6 where P, Qa, and O, denote the price, quantity demanded, and quantity supplied, respectively. (i) Determine the equilibrium price and quantity. (i) Determine the effect on the market equilibrium if the government decides to impose a fixed tax of GH¢9 on each good. Who pays the tax?

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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