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    new price, quantity and incidence of taxation on consumers

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    Hello OTA's I am hoping someone can show me how to do this question. It is in my economics book, and I need to figure out how to get the answer. Can someone show me how to do this question.

    Thank you.

    In a market, demand is initially given by Q=100-20P, and supply by Qs=50+10P. Find the equilibrium price and quantity. Now, a $1.00 dollar lump sum tax is levied on suppliers. Find the new price, quantity and incidence of taxation on consumers. hide problem

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    Solution Preview

    In a market, demand is initially given by Q = 100 - 20P, and supply by Qs = 50 + 10P. Find the equilibrium price and quantity. Now, a $1.00 dollar lump sum tax is levied on ...

    Solution Summary

    Find the new price, quantity and incidence of taxation on consumers.

    $2.19