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The market for soda in Newtown can be represented by QD = 100 - 10P and QS = 10P, where Q is the ...

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The market for soda in Newtown can be represented by QD = 100 - 10P and QS = 10P, where Q is the ...

The market for soda in Newtown can be represented by QD = 100 - 10P and QS = 10P, where Q is the number of cases and P is the price per case.

Use the information above on the market for soda in Newtown. What would happen to the equilibrium price and quantity of soda if the price of sugar decreased while the city council imposes a tax on sugary beverages?

▸ The change in price is ambiguous and the quantity would increase.

▸ The equilibrium price and quantity would fall.

▸ The equilibrium price would fall and the change in quantity would be ambiguous.

▸ The equilibrium price would fall and the quantity would increase.

Textbook

Macroeconomics

Edition: 3^rd

Authors: Acemoglu, Laibson, List

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