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There are 20000 identical individual consumer …

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There are 20000 identical individual consumer in the market for a commodity, each with a demand function given by Qd=6-Px and 2000 identical producers, each with supply function given by Qs=20Px. 1) find the market demand and market supply function ? 2) calculate equilibrium price and equilibrium quantity ? 3) suppose the government decides to collect a sales tax of 2 per unit sold from each of the 2000 sellers. How will it affect the equilibrium price and quantity?

Posted by Goutam Toshniwal 7 years, 1 month ago

CBSE > Class 12 > Economics

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