題組內容

五、A good is traded in a perfectly competitive market. The demand function is given by X = 75 - 5P, where X is the quantity demanded, and P is the price.

2. Assume the supply is given by Y = 2.5P, where Y is the quantity supplied. Please calculate the tax revenue, and the tax incidence on the buyer and seller, respectively, if a specific tax of value t = 3 is introduced. (9分)