In a competitive market, the supply schedule is p = 4 + 0.25q and the demand schedule… 1 answer below »


In a competitive market, the accoutre list is p = 4 + 0.25q and the require list is p = 16 - 0.5q. What would bechance to the compensation hired by consumers and the amount bought & sold if a proportional sales tax of 20% were to be imposed?