Math Problem Statement
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Solution
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Math Problem Analysis
Mathematical Concepts
Economics
Market Equilibrium
Quadratic Equations
Formulas
Qd = 30 - 8P^2
Qs = 10P^2 + P + 20
Market Equilibrium: Qd = Qs
New equilibrium after tax: adjusted supply or demand equation
Theorems
Market Equilibrium
Tax Impact on Equilibrium
Suitable Grade Level
University level Economics or Advanced High School Math
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