Certain market the demand function for a product

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Suppose that in a certain market the demand function for a product is given by 10p + q = 2500 and the supply function is given by 40p − q = 380. If the government levies a tax of $3 per item on the supplier, who passes the tax on to the consumer as a price increase, find the equilibrium price and quantity after the tax is levied.

Reference no: EM131171443

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