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Derive market equilibrium and illustrate it graphically, Microeconomics
Market demand and supply of a good is shown by QB = 2,160 - 180P and QS = -2400 + 300P where QD, QS and P stand for quantity demanded, quantity supplied and price respectively.
(a) derive market equilibrium and illustrate it graphically.
(b) Derive the market equilibrium in the presence of a unit tax of $4 and illustrate the after-tax market equilibrium graphically.
Posted Date: 8/18/2012 6:06:50 PM | Location : United States
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