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ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN: 9780190931919
Author: NEWNAN
Publisher: Oxford University Press
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Suppose that the demand for a good is described by the inverse demand function p = 10 - 3q and the supply of the good is given by the inverse supply function p = 2 + 2 q:
Q: Suppose the government imposes a $1 per unit tax on suppliers. Now what is the price the seller will receive and quantity of the good in this market?
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