Please written by computer source Given the following inverse demand and supply equations: P = 26 - 2 Q P = 2 Q 1. What is the before tax equilibrium quantity 2. What is the before tax equilibrium price 3. If the government imposes a per unit tax on each item, assuming the producers pay the tax, what is the new equilibrium quantity if the per unit tax is 4?
Please written by computer source
Given the following inverse demand and supply equations:
P = 26 - 2 Q
P = 2 Q
1. What is the before tax equilibrium quantity
2. What is the before tax
3. If the government imposes a per unit tax on each item, assuming the producers pay the tax, what is the new equilibrium quantity if the per unit tax is 4?
4. Given the change in part 3, what is the new equilibrium price
5. What is the price paid by the consumer
6. What is the price received by the producer
7. What is the per unit dollar value of the consumer's tax burden
8. What is the per unit dollar value of the producer's tax burden
For the remaining questions, assume that the government imposed tax in part 3 is paid by the buyer.
9. What is the new equilibrium quantity
10. What is the new equilibrium price
11. What is the price paid by the consumer
12. What is the price received by the producer
13. What is the per unit dollar value of the consumer's tax burden
14. What is the per unit dollar value of the producer's tax burden
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