Self Assessment Solutions Linear Economic Models 1. Demand

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P = 7+Qs/2 Let Qs = 0 P = 7 -10 0 10 20 30 40 0 102030 40506070 Demand Supply 1 Supply 2 Fill in equilibrium before tax, equilibrium after tax, amount paid by consumer, amount paid by producer. 2. The demand and supply functions of a good are given by Qd = 110-5P Qs = 6P where P, Qd and Qs denote price, quantity demanded and quantity supplied ...

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P = 7+Qs/2 Let Qs = 0 P = 7 -10 0 10 20 30 40 0 102030 40506070 Demand Supply 1 Supply 2 Fill in equilibrium before tax, equilibrium after tax, amount paid by consumer, amount paid by producer. 2. The demand and supply functions of a good are given by Qd = 110-5P Qs = 6P where P, Qd and Qs denote price, quantity demanded and quantity supplied ...
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