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The annual demand for cigarettes in a certain state is given QD 100000 2000 P where P is the price per gallon and Qp is packs of cigarettes demanded

The annual demand for cigarettes in a certain state is given QD 100,000 - 2,000 P where P is the price per gallon and Qp is packs of cigarettes demanded per year. The supply of cigarettes is given by the equation Qs 3,000 P Suppose that a 1 TL per pack tax is levied on the price of cigarettes received by sellers Calculate the efficiency loss. What portion of the tax is shifted on the consumers?

Apr 19 2020 Read more Less More

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