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Answer to Question #73425 in Microeconomics for aasema
Question #73425
suppose the demand for Frisbees is given by
Q=100-2p
and the supply by
Q=20-6p
a)what will be the equilibrium price and quantities for Frisbees?
b)suppose the government levies a tax of rs:4 per frisbee.Now what will the equilibrium quantity the price consumers will pay & the price firm will receive?
c)how would your answer to part a &b change if the supply were insteadQ=70+P
Q=100-2p
and the supply by
Q=20-6p
a)what will be the equilibrium price and quantities for Frisbees?
b)suppose the government levies a tax of rs:4 per frisbee.Now what will the equilibrium quantity the price consumers will pay & the price firm will receive?
c)how would your answer to part a &b change if the supply were insteadQ=70+P
Expert's answer
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