Determination of equilibrium price and quantity demanded

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Reference no: EM1315076

Suppose that Demand and Supply curves for coffee bean is given by

Q^D=10-P Q^s=P

Where Q denotes the tons of coffee bean and P denotes the price per ton.

(a) What's the equilibrium price and quantity?

(b) Suppose that government wants to tax coffee bean by $t per ton.

Reference no: EM1315076

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