incidence of the tax Assume that the demand function is given by x=P^-n, and the supply function by y= p^e Find the equilibrium price Determine the effect on the equilibrium price of the introduction...

incidence of the tax

Assume that the demand function is given by x=P^-n, and the

supply function by y= p^e Find the equilibrium price Determine the effect on

the equilibrium price of the introduction of a tax t=01 if n= e=05 Finally,

describe how the incidence of the tax is divided between the consumers and

producers