The data in the table below are for kilos of prawns. Price $24 26 28 30 32 34 36 Quantity Demanded 270 250 230 210 190 170 150 Quantity Supplied (before tax) 210 220 230 240 250 260 270 Quantity Supplied (after tax) a) What is the present equilibrium price and quantity? Equilibrium price: $ Equilibrium quantity: Suppose that the government Introduces a $6 excise tax on prawns.

The data in the table below are for kilos of prawns. Price $24 26 28 30 32 34 36 Quantity Demanded 270 250 230 210 190 170 150 Quantity Supplied (before tax) 210 220 230 240 250 260 270 Quantity Supplied (after tax) a) What is the present equilibrium price and quantity? Equilibrium price: $ Equilibrium quantity: Suppose that the government Introduces a $6 excise tax on prawns.

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter3: Demand And Supply

Section: Chapter Questions

Problem 53P: Table 3.8 shows information on the demand and supply for bicycles, where the quantities of bicycles...

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