Suppose that the demand and supply functions for good x are given as follows: Q = 240-2P, +1-P, and Q --30+ P-21 +8-25 where P, denotes the price of good x. P, denotes the price of a related product y, I denotes income, t denotes tax firms face, s denotes subsidy and f denotes factor prices What is the equilibrium quantity of x as a function of exogenous variables P, I. t. s and f eqb = 60 + Qeqb = 90 + Qab 1+Py-4t+2s-4/ 3 = 90+ 1-Py-4t+2s-4f 3 eqb 2x = 60 + 1-Py-40+2s-4f 3 1+Py+4t+2s-4/ 3

A market for a certain type of golf clubs has the following supply and demand: QD where p denotes the unit price. 25p —D 4,500 - 20р, (a) Find the number of golf clubs produced and the equilibrium price. What is the consumer and producer surplus? (b) Suppose that a unit tax of nine dollars is levied on the producers of golf clubs. Find the number of golf clubs sold. What is the consumer and producer surplus in this case? ce wa се (c) How is the tax burden shared? cro.com

2. Suppose the demand for a commodity depends on the price per unit P according to D = a – bP, but that a tax of t per unit is imposed on the consumers. The constants a and b are positive. The supply function is S = g(P), where g'(P) > 0. a. Express the equilibrium condition in the marker for this commodity. b. The equilibrium equation defines P as a differentiable function of t. Find dP/dt and determine its sign. c. What happens to the price P +t paid by the consumers when t increases?

Paper cups are popular items for schools and are produced in the market. There are equations for the Supply and Inverse Demand of paper cups that model its Supply and Demand graph. These equations are (for supply), P = 2 + 3Qs, and (for Inverse Demand), P = 12 - 2Qd. Likewise, paper cups are inexpensive and not very helpful for companies trying to achieve high profits. As a result, the government placed a price support of $9. (Part I) Draw the market equilibrium with the government intervention (Q**, P**) of the price ceiling. Please label the graph for slopes, equilibrium points, price support, etc. (Part II) What is the market equilibrium with the intervention of the government (Q**, P**)? (Part III) What is the government surplus (GS**)? (Part IV) What is the Dead Weight Loss (DWL**)?

Suppose that the demand and supply functions for good x are given as follows: Q=120-2P, +I+P, and Q=-30+ P₁ - 2r+s-2/ where P, denotes the price of good x, P, denotes the price of a related product y, I denotes income, t denotes tax firms face, s denotes subsidy and f denotes factor prices. What happens to the price and quantity equilibrium of good x as Income falls? Price equilibrium falls while quantity equilibrium rises. Both equilibrium price and quantity fall. Price equilibrium rises while quantity equilibrium falls. Both equilibrium price and quantity rise.

Next, consider an example of DWL in the labour market. Suppose the demand for labour is given by the fixed gross wage W = $16. The supply is given by W = 0.8L. (a) Illustrate the market geometrically. (b) Calculate the equilibrium amount of labour supplied, and the supplier surplus. (c) Suppose a wage tax that reduces the wage to W = $12 is imposed. By how much is the supplier’s surplus reduced at the new equilibrium?

Suppose that a certain product has the following demand and supply functions. Demand: Supply: p = -0.049 + 45 0.049 + 20 p = A $5 tax per item is levied. Determine the supply function when tax is added. p = Find the market equilibrium point after the tax. C (q, p) = =

Solve step by step please If ? = −0.5? + 450 is a demand equation, where ? is the price of the good and ? is the quantity of product demanded, find the marginal revenue function and interpret.