Let Supply Be Given by Q = -7

question 37

Multiple Choice

Let supply be given by Q = -7.5 + 0.5P and demand by Q = 10 - 0.2P. Suppose we now place a tax of $7 per unit of output on the seller. The new equilibrium price will be:

• A)4
• B)30
• C)37
• D)10

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Definitions:

Benzaldehyde

An organic compound consisting of a benzene ring with an aldehyde functional group; used as a precursor in the synthesis of various chemicals.

Butanal

An aldehyde with the formula C4H8O, characterized by a straight-chain four-carbon structure and a terminal carbonyl group.

Major Organic Product

The primary product obtained in the highest yield from an organic chemical reaction, distinguishing it from by-products or side products.

Major Organic Product

The primary outcome of an organic reaction, characterized by being the most abundant product formed.