supply for oranges in a perfectly competitive market Demand: P= 200-100 Supply: P=15Q a) Find the equilibrium price and quantity. Suppose the government imposes a tax of $10/unit of the good and decides to collect it from the sellers. b) Find the after-tax equilibrium price and quanity. c) Also find the burden of tax on consumer and producer.

supply for oranges in a perfectly competitive market Demand: P= 200-100 Supply: P=15Q a) Find the equilibrium price and quantity. Suppose the government imposes a tax of $10/unit of the good and decides to collect it from the sellers. b) Find the after-tax equilibrium price and quanity. c) Also find the burden of tax on consumer and producer.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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