The Inverse Demand Function for Mangos Is Defined by the Equation

question 13

Multiple Choice

The inverse demand function for mangos is defined by the equation p = 91 - 5q, where q is the number of crates that are sold.The inverse supply function is defined by p = + 6q.In the past there was no tax on mangos but now a tax of $44 per crate has been imposed.What are the quantities produced before and after the tax was imposed?

• A)5 crates before and 5 crates after
• B)16 crates before and 9 crates after
• C)14 crates before and 7 crates after
• D)8 crates before and 4 crates after
• E)None of the above.

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Definitions:

1763 Royal Proclamation

A document issued by King George III following Great Britain's acquisition of French territory in North America after the end of the Seven Years' War, establishing the framework for governing the North American colonies.

1867 Constitution Act

A foundational document in the confederation of Canada that established the framework of the federal government and its relationship with the provinces.

Social inequality

A condition in which members of a society have different amounts of wealth, prestige, or power.

Accelerated

Describes a process or rate that is increasing in speed or intensity over time.