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Business, 16.07.2019 03:30 asiababbie33

Assume the demand function for basketballs is given by qd = 150 −3p + 0.1i, where p = price of a basketball, and i = average income of consumers. also, assume the supply of basketballs is given by qs = 2p. if the market for basketballs is perfectly competitive, and the average income is equal to $1,500, what is the equilibrium price and quantity? what if a 20 percent income tax is introduced?

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Assume the demand function for basketballs is given by qd = 150 −3p + 0.1i, where p = price of a bas...

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