Qs=2p, Qd=12-p
The following is the quantity demanded and quantity supplied ofin a market? (1)
What is the market equilibrium price and supply for the marketabove? (1)
If there was a tax of 6 dollars on firms how much will the firmsreceive from the buyers, how much will consumers pay for good, howmuch will the government make in revenue? (1)
What types of goods tend to be inelastic? Should the governmenttax these types of goods, Why or why not? (2)
