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Category > Economics Posted 27 Jun 2018 My Price 9.00

demand curve in competitive market

Q1 The demand curve in competitive market is given by P = 60 - 4Qd,

where P is price and Qd is the quantity demanded. The supply curve is P = 6Qs, where Qs is the quantity supplied. The government imposes a $20 per-unit tax to be legally paid by consumers. Compared with the pre-tax equilibrium:

(a)Consumers pay an extra $20 per unit, Suppliers receive the same amount per unit.

(b)Consumers pay an extra $12 per unit, Suppliers receive $8 less per unit.

(c)Consumers pay an extra $10 per unit, Suppliers receive $10 less per unit.

(d)Consumers pay an extra $8 per unit, Suppliers receive $12 less per unit.

(e)Consumers pay an extra $4 per unit, Suppliers receive $16 less per unit.

 

Please help me with this question. What is the answer and please show explanation and working out please

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Maurice Tutor
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Status NEW Posted 27 Jun 2018 09:06 PM My Price 9.00

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