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Suppose that a market is decribed by the following supply

Suppose that a market is decribed by the following supply and demand equation:

Qs = 2P

Qd = 300 -P

a. Solve for the equilibrium price and the equilibrium quanity.

b. Suppose that a tax of T is placed on buyers, so the new demand equatioin is

Qd = 300 - (P +T)

Solve for the new equilibrium. What happens to the price received by the sellers, the price paid by uyers, and the quanity sold.

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Business Economics: Suppose that a market is decribed by the following supply

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