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1. Assume: S(P-) = 50 + P, D(P+) = 370 - 3P , Sales tax of 20%. Calculate the equilibrium buyers' and sellers' price with no sales tax, and then with the 20% tax assumed above.
2. Assume: S(P-) = 50 + 3P ,D(P+) = 370 - P ,Sales tax of 20%. Calculate the equilibrium buyers' and sellers' price with no sales tax, and then with the 20% tax assumed above.
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