the supply and demand functions for a product are defined as Qs =100 and
Qd =50P^1/2 + 10
i)find the equilibrium price and quantity
ii)sketch a graph to show the results in (i)above
iii)Assume the equilibrium price is 80 pesewas (p=0.80)
find the PES and PED associated with a small increase in price from current price of 80 pesewas.
iv)What is the incidence of a tax of Ghs 0.6 imposed on the producer?
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