Essay
A.Draw another line on the graph representing a tax increase of $1.
B.How much is the new equilibrium price and quantity?
C.How much of the tax is borne by the buyers and how much is borne by the sellers?
Correct Answer:
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(a) 
(b) $15.50 and ...View Answer
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Correct Answer:
Verified
(b) $15.50 and ...View Answer
Unlock this answer now
Get Access to more Verified Answers free of charge
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