Derive market equilibrium and illustrate it graphically, Microeconomics

Assignment Help:
Market demand and supply of a good is shown by QB = 2,160 - 180P and QS = -2400 + 300P where QD, QS and P stand for quantity demanded, quantity supplied and price respectively.

(a) derive market equilibrium and illustrate it graphically.
(b) Derive the market equilibrium in the presence of a unit tax of $4 and illustrate the after-tax market equilibrium graphically.

Related Discussions:- Derive market equilibrium and illustrate it graphically

What are externalities and corrective taxes, 1. What are externalities? Giv...

1. What are externalities? Give an example of positive and negative externality and explain why the market outcomes are inefficient in the presence of externalities? 2. What are

Price elasticity of demand and of supply, List and describe the determinant...

List and describe the determinants of the price elasticity of demand and of supply.

Long run average cost (lac), Long Run Average Cost (or LAC) -Constant R...

Long Run Average Cost (or LAC) -Constant Returns to Scale If the input is doubled, the output will double and average cost is constant at all the levels of output.

Balance of payment, Balance of payment: It is an account that summariz...

Balance of payment: It is an account that summarizes a country’s total payments and total receipts from international economic transactions within a specific period usually on

MBA, The market demand for brand X has been estimated as Qx=1500-3Px-0.05I-...

The market demand for brand X has been estimated as Qx=1500-3Px-0.05I-2.5Py+7.5Pz Where Px is the price of brand X, I is per-capita income, Py IS the price of brand Y, and Pz is th

How to calculate the a price index, Why does a price index based on constan...

Why does a price index based on constant weights tend to overstate inflation in periods after the base year when the price of one good is rising quickly compared to other goods?

State the example of price and price level, State the example of price and ...

State the example of price and price level Create a basket which contains all the goods sold by a specific store on a specific day. Price of this basket is then a price level -

Assignement, need help for my micro assignment

need help for my micro assignment

Calculate currency exchange rate, Question-1 : This question is designed ...

Question-1 : This question is designed to show your understanding of stock market terminology and also the impact of currency exchange rate. You are a Swiss Franc (CHF) based inv

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd