Principles of Macroeconomics
7th Edition
ISBN: 9781260110982
Author: Frank, Robert
Publisher: MCGRAW-HILL HIGHER EDUCATION
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Chapter 7, Problem 1P
To determine
Compare the real
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Consider the following demand and supply functions:Qd= 10-PQs=1+2pFind the equilibrium price and quantity, Producers and Consumer surpluses.Consider the tax size 3. What would be new CS and PS, TS and DL? (hint – it would be easierif you draw them)
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