Given the following market information for televisions. Answer the following questions.
Market demand: P = 252-20
Market Supply: P = 20
a Find the equilibrium price and quantity in this market. (2)
b. What is the value of consumer surplus and producer surplus in this market? (3)
c. Suppose the government has imposed a tax of 50/unit on sellers. What will be the number of televisions sold in this
market with the imposition of tax? (3)
d. Find the incidence of tax on consumers and producers and comment on the nature of the commodity (2)
Answers
Answered by
1
Answer:
soory to much to chat whattttttttttttttttttt
Similar questions