Given the following demand and supply functions: Qd = 220 - 5p Qs = -20...

Given the following demand and supply functions:
Qd = 220 - 5p
Qs = -20 + 3p
if a per unit tax of 8 is imposed on the commodity via the consumer,
I) determine the equilibrium price and quantity before the imposition of the tax.
ii) determine the equilibrium price and quantity after the imposition of the tax.
iii) compare the results in (I) and (II).
iv) graph the results in (I) and (II).
thanks in advance.?

In Commerce
2 Answers Available
Asked by Jvinkay on 2nd June, 2020