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AHow Much Is the Tax in the Above Graph

Question 177

Essay

A.How much is the tax in the above graph? B.How much of this tax is borne by the buyer and how much is borne by the seller? C.As a result of the tax, by about how much does consumption fall?
A.How much is the tax in the above graph?
B.How much of this tax is borne by the buyer and how much is borne by the seller?
C.As a result of the tax, by about how much does consumption fall?

Correct Answer:

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(a) $2
(b) buyers pa...

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