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price is 10 and quantity is 10 where the market equilibrium price is If the government imposes a tax of $8 per shirt then what will be the tax burden on buyers

price is 10 and quantity is 10.... where the market equilibrium price is.... • If the government imposes a tax of $8 per shirt, then what will be the tax burden on buyers and what will be the tax burden on sellers? • Did the market grow or shrank as a result of tax? How much was the tax revenue generated as a result? • What was the price buyers paid for each shirt before the taxes were imposed and what they paid after the taxes? • What was the price sellers received per shirt before the taxes and what did they receive after the taxes?

Apr 17 2020 View more View Less

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