The Supply Function for a Product Is , While

question 33

Multiple Choice

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. ​

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