Suppose that a certain product has the following demand and supply functions, where p is the price per unit in dollars and q is the quantity produced.
Demand: Supply:
If a $10 tax per item is levied on the supplier, who passes it on to the consumer as a price increase, find the market equilibrium point after the tax.

Question

Suppose that a certain product has the following demand and supply functions, where p is the price per unit in dollars and q is the quantity produced. ​
Demand:  Supply:  ​
If a $10 tax per item is levied on the supplier, who passes it on to the consumer as a price increase, find the market equilibrium point after the tax.
​

Quizplus · Accepted Answer

The Answer of Suppose that a certain product has the following demand and supply functions, where p is the price per unit in dollars and q is the quantity produced. ​
Demand:  Supply:  ​
If a $10 tax per item is levied on the supplier, who passes it on to the consumer as a price increase, find the market equilibrium point after the tax.
​

Suppose That a Certain Product Has the Following Demand and Supply