Equilibrium price and quantity after imposition of xed tax

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The demand and supply functions of a good are given by P = -2Q D + 48 P =1/2Q S + 23 (a) Find the equilibrium price and quantity. (b) Graph and label the two functions on the same diagram. (c) Find the new equilibrium price and quantity after the imposition of a xed tax of $5 per good. Who pays the tax?

Reference no: EM131268450

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