Business, 07.11.2019 06:31 lisxramirez

Yachts are produced by a perfectly competitive industry in dystopia. industry output (q) is currently 30,000 yachts per year. the government, in an attempt to raise revenue, places a $20,000 tax on each yacht. demand is highly, but not perfectly, elastic. refer to scenario 2. the result of the tax in the long run will be that
a. q falls from 30,000; p rises by $20,000.
b. q falls from 30,000; p rises by less than $20,000.
c. q stays at 30,000; p rises by less than $20,000.
d. q falls from 30,000; p does not change.
e. q stays at 30,000; p rises by $20,000.

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Yachts are produced by a perfectly competitive industry in dystopia. industry output (q) is currentl...

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