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.
Definitions:
Competitive Market
A market structure characterized by a large number of buyers and sellers, so no single participant has significant market power.
Profit Maximization
The operation by which businesses deduce the pricing and quantity of output that maximizes profit gains.
Ore
Naturally occurring minerals or rock from which valuable metals or other elements can be extracted profitably.
Marginal Rate of Substitution
The rate at which a consumer is willing to trade one good for another while maintaining the same level of utility.
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