What is the equilibrium price and quantity, Microeconomics

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What is the equilibrium price and quantity

Assignment problem: Suppose the market demand function (expressed in dollars) for a normal product is P = 2000 - 4Q and the Supply Curve is P= 250 + 5Q, where P is the price of the product and Q is the quantity demanded or supplied. Assume that the Marginal External Cost curve is MEC = 30 + 4Q. Here are the specific questions: (show all your calculations and draw the graph. In a competitive market

Q1.What is the equilibrium price and quantity?

Q2. How is the total external cost (TEC)?

Q3.In the socially efficient system,

Q4. What is the efficient output and price?

Q5. What is the efficient Pigouvian tax?

Q6. How much is the total external cost (TEC)?

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Microeconomics: What is the equilibrium price and quantity

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Microeconomics: What is the equilibrium price and quantity

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