Determine the equilibrium price and quantity


The demand and supply curves for product are given in terms of price, p, by q= 2900-40p and q=10p-600. a) Determine the equilibrium price and quantity. b) A specific tax of $10 per unit is imposed on suppliers. Find the new equilibrium price and quantity. c) How much of the $10 tax is paid by consumers and how much by producers? I understand how to find the original equilibrium price and quantity, I just can't figure out what the new equilibrium price and quantity is after the $10 tax is imposed.

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Mathematics: Determine the equilibrium price and quantity
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