The inverse demand for oranges is defined by P(q) = 182 – 7q…
The inverse demand for oranges is defined by P(q) = 182 – 7q, where q is the number of units sold. The inverse supply functions is defined by P(q) = 22 + 3q. A tax of $10 is imposed on suppliers for each of orange sold. After the tax is imposed, the equilibrium quantity of oranges sold falls to
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