Find the equilibrium price and quantity

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Reference no: EM13733572

1) Find the equilibrium price and quantity with QD' =80-10P and QS=10P

2) Find the equilibrium price and quantity with QD=60-10P and QS'=20+10P

3) Find the equilibrium price and quantity with QD'=80-10P and QS'= 20+10P

4) Starting with QD =60-10P and QS=10P and supposing that the government imposes an excise tax of $2 per unit collected from producers find (a) the new equilibrium price and quantity and (b) how much of the tax is actually paid by consumers and how much falls on producers.

Reference no: EM13733572

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