Each of the 10 firms in a competitive market has a before-tax cost function ofC=25+ q°.The market demand function isQ= 720 - p.Suppose the government imposes a specific tax of $4.80 per unit to be paid by producers. Determine the equilibrium price, quantity per firm, and market quantity.The equilibrium price is $ 124. (Enter your response as a whole number.)The quantity per firm is q= 59.6 units. (Enter your response rounded to one decimal place.)The market quantity is Q=units. (Enter your response as a whole number.)y ResEtionHelp me13dtvMacBook Airesc80DIIF1F3F4F5F6@%24&23478QWEtabAGlockCVBntroloptioncommandつエの

*Answer: Given, C = 25 +q2 Q = 120 - P t = $4.80 So, MC = 2q P = MC P = 2q q = P/2 After tax, C = 25…

C= 25 +q ket demand function is Q= 720 - p. e the government imposes a specific tax of $4.80 per unit to be paid by producers. Determine the equilibrium price, quantity per firm uilibrium price is $ 124. (Enter your response as a whole number.) mantity per firm is q = 59.6 units. (Enter your response rounded to one decimal place.) arket quantity is Q= units. (Enter your response as a whole number.) Help me 13 tv MacBook Air esc F3 F4 FS 23 $ % & 1 2 3 4 5 7

C= 25 +q ket demand function is Q= 720 - p. e the government imposes a specific tax of $4.80 per unit to be paid by producers. Determine the equilibrium price, quantity per firm uilibrium price is $ 124. (Enter your response as a whole number.) mantity per firm is q = 59.6 units. (Enter your response rounded to one decimal place.) arket quantity is Q= units. (Enter your response as a whole number.) Help me 13 tv MacBook Air esc F3 F4 FS 23 $ % & 1 2 3 4 5 7

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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