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What is the total quantity of bowling balls consumed

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Reference no: EM131253788

The inverse demand p(q) for bowling balls is given by p = 100 - 5q where p is the price ofbowling balls and q is the consumption of bowling balls. The price of a bowling ball is $5

(a) What is the total quantity of bowling balls consumed, and what is the consumer surplus.

(b) The government set a tax of 20% on bowling balls, what is the total quantity of bowlingballs consumed, what is the consumer surplus, the tax revenue and the dead-weight loss.

Reference no: EM131253788

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