(Answered) equilibrium. let demand be given by p=10-q let supply be given by p=qequilibrium. let demand be…

➤ When does a price ceiling or a tax change this equilibrium?
A binding price ceiling below 5 creates a shortage because quantity demanded will exceed quantity supplied. A per‑unit tax shifts supply up (or demand down) and reduces traded quantity. To find the new equilibrium, add the tax to the supply price and solve the modified system with demand.