The demand curve in this problem is pb=Dq=1000-30q, and the supply curve in this problem is ps=S(q)=40q

a.) What is the equilibrium quantity and price?

b.) What is the producer and consumer surplus in this market?

c) What is the formula for the elasticity of the supply curve, and the elasticity of the demand curve? What is the elasticity at equilibrium?

d) After a fixed per unit tax of t=100, what is the price paid by the buyer, and the price paid by the seller in equilibrium? What is the new equilibrium quantity?

Order your Assignment today and save 15% with the discount code ESSAYHELP

X