function of product ZT: Qd = 25 - 1.25 P Qs = -9 + 3 P Note: Determine the equilibrium point first to answer the following question. 7. How much is the change in the price for the consumer, when additional sales tax is 0.85 per unit? Use a number, 2 decimal values, no commas, no space, no signs. * 8. How much is the buying price when sales tax is imposed? Use a number, 2 decimal values, no commas, no space, no signs. *
function of product ZT: Qd = 25 - 1.25 P Qs = -9 + 3 P Note: Determine the equilibrium point first to answer the following question. 7. How much is the change in the price for the consumer, when additional sales tax is 0.85 per unit? Use a number, 2 decimal values, no commas, no space, no signs. * 8. How much is the buying price when sales tax is imposed? Use a number, 2 decimal values, no commas, no space, no signs. *
Microeconomics: Principles & Policy
14th Edition
ISBN:9781337794992
Author:William J. Baumol, Alan S. Blinder, John L. Solow
Publisher:William J. Baumol, Alan S. Blinder, John L. Solow
Chapter6: Demand And Elasticity
Section: Chapter Questions
Problem 3TY
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Question
Consider the following demand and supply function of product ZT:
Qd = 25 - 1.25 P Qs = -9 + 3 P
Note: Determine the equilibrium point first to answer the following question.
7. How much is the change in the price for the consumer, when additional sales tax is 0.85 per unit? Use a number, 2 decimal values, no commas, no space, no signs. *
8. How much is the buying price when sales tax is imposed? Use a number, 2 decimal values, no commas, no space, no signs. *
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