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What is the before-tax equilibrium price and quantity

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Reference no: EM132324730

Suppose the original before-tax demand curve for CD players is P = 100 - 2Qd. Suppose further that supply is P = 5 + 3Qs. Now suppose a $5 unit tax is imposed on consumers.

a. What is the before-tax equilibrium price and quantity?

b. What are the after-tax equilibrium prices and quantity?

c. How much tax revenue is raised? 

d. Would the answer in b change if the tax was levied on suppliers? Why or why not?

Reference no: EM132324730

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