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Homework Help: Supply demand qs

  1. Oct 12, 2008 #1
    Given p is the price for buyers
    and p-t be the price that suppliers get after paying a tax per unit of t
    Supply is 2(p-t) and Demand is 100-p
    a.) what is the equilibrium price ?
    b.) how many quantities are sold at this price?

    i'm stucked with the first one , all i know is that when it is equilibrium , S = D
    i did equate it but i have 2 unknowns .. should i give the P* (equilibrium price) in terms of t ?
     
  2. jcsd
  3. Oct 12, 2008 #2

    jacksonpeeble

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    Gold Member

    I do not believe that you can answer this question without more information. You can certainly simplify it, though.

    S=D
    2(p-t)=100-p
    t=3x/2-50
     
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