Suppose we have the following demand and supply equations D(p) = 200 – p and S(p) = 150 + p a. What is the equilibrium price and quantity? b. If a quantity tax of Ghc2 per unit is placed on the good,...

step by step solution,
please when calculating the dead weight loss use a graph to show working.

b, c and d onlys

Extracted text: Suppose we have the following demand and supply equations D(p) = 200 – p and S(p) = 150 + p a. What is the equilibrium price and quantity? b. If a quantity tax of Ghc2 per unit is placed on the good, calculate the new equilibrium price and quantity c. If an ad valorem tax of 20% is placed on the good, what will be the effect on equilibrium price and quantity d. Calculate the dead weight loss associated with the imposition of each tax