i dont think this should be to hard but

[bensmyname]

its an economics question but i must be doing something out of order here. i must find the equilibrium price basically in order to work out quantity demanded and quantity supplied, equilibrium being where qd=qs
Quantity demanded= 600 - p
Quantity supplied = -3600 + 20p(1-t)
Tax is 25 percent in this case
I keep getting an answer of 266.67 which doesnt seem to work, i know im stuffing it up around the brackets as i can do it when there is no tax fine. So im doing something out of order im guessing?
600 - p = -3600 + 20p(.75)
4200=21p(.75)
4200/.75 = 5600
5600/21 = 266.67?? no??

Thanks for any help.

 

[Denis]

600 - p = -3600 + 20p(.75)
4200=21p(.75)

NO! 20p(.75) = 15p : kapish?
So:
600 - p = -3600 + 15p

Take over...

 

[bensmyname]

Thank you very much!