Multiple Choice
The inverse demand function for mangos is defined by the equation p = 91 - 5q, where q is the number of crates that are sold. The inverse supply function is defined by p = 3 + 6q. In the past there was no tax on mangos but now a tax of $44 per crate has been imposed. What are the quantities produced before and after the tax was imposed?
A) 5 crates before and 5 crates after
B) 16 crates before and 9 crates after
C) 14 crates before and 7 crates after
D) 8 crates before and 4 crates after
E) None of the above.
Correct Answer:
Verified
Correct Answer:
Verified
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