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The supply function for a product is , while the demand function for the same product is
. If a $22 tax is placed on production of the item, then the supplier passes this tax on by adding $22 to his selling price. Find the new equilibrium point E(q, p) for this product when the tax is passed on. (The new supply function is given by
.) Round your final answer to two decimal places.
Schizophrenia
A psychological condition marked by disturbances in cognition, perception, affectivity, and social behavior.
Specific Phobia
An intense, irrational fear of, or aversion to, a particular object, situation, or activity that leads to significant distress or impairment in functioning.
Mental Health Practitioner
A professional specialized in diagnosing and treating mental and emotional disorders.
Selective Serotonin Reuptake Inhibitor
A class of drugs commonly prescribed to treat depression and anxiety disorders by increasing serotonin levels in the brain.
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