Suppose that the demand function for a monopolist is P=700-5Q and its total cost function is 20Q2. Suppose the government imposes a tax of $50 per unit on output. The equilibrium price and quantity are __________________ before the per the tax is imposed and ____________________ after the tax is imposed..

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     $630 and 14; $635 and 13
      $630 and 14; $680 and 13
      $630 and 14; $580 and 14
      $630 and 14; $655 and 13
asked Jun 2, 2013 in Economics by anonymous
    

1 Answer

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$630 and 14; $635 and 13
answered Jun 3, 2013 by Xyz ~Expert~ (3,650 points)

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