Perfectly competitive market described by supply function

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Consider a perfectly competitive market described by the supply function P = 20 + 0.3Q and demand function P = 120 - 0.2Q. If the government intervenes in the market and imposes upon firms a specific tax of t = $5 per unit of output sold, then once the market achieves the new (regulated) market equilibrium.

Reference no: EM131386309

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