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Supply and demand curves for a consumer item are give by q = (s(p)=500 + p and q = D(p)=2300-2p respectively p is the price in dollars for one unit of this item and q is the umber of units. The equilibrium price is ' =$600 A sales tax of 3.2% to be directed at the consumers, is under consideration.   Determine the amout of money per item that supplies stand to lose due to this tax which is directed at consumers.

Supply and demand curves for a consumer item are give by q = (s(p)=500 + p and q = D(p)=2300-2p respectively p is the price in dollars for one unit of this item and q is the umber of units. The equilibrium price is ' =$600 A sales tax of 3.2% to be directed at the consumers, is under consideration.   Determine the amout of money per item that supplies stand to lose due to this tax which is directed at consumers.

Essentials of Business Analytics (MindTap Course List)
Essentials of Business Analytics (MindTap Course List)
2nd Edition
ISBN:9781305627734
Author:Jeffrey D. Camm, James J. Cochran, Michael J. Fry, Jeffrey W. Ohlmann, David R. Anderson
Publisher:Jeffrey D. Camm, James J. Cochran, Michael J. Fry, Jeffrey W. Ohlmann, David R. Anderson
Chapter15: Decision Analysis
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Supply and demand curves for a consumer item are give by q = (s(p)=500 + p and q = D(p)=2300-2p respectively

p is the price in dollars for one unit of this item and q is the umber of units. The equilibrium price is ' =$600

A sales tax of 3.2% to be directed at the consumers, is under consideration.  

Determine the amout of money per item that supplies stand to lose due to this tax which is directed at consumers.

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