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Business, 28.11.2019 03:31 asmaamasto

Suppose the government levies a tax of $0.50 per pack on the buyers of cigarettes. suppose also that the price elasticity of demand for cigarettes is 1.2 and the price elasticity of supply is 0.7. after this tax is levied, total surplus will , and the price received by producers (not including the tax) will ,a. increase increase by exactly $0.50b. decrease fall by exactly $0.50c. increase fall by less than $0.50d. decrease fall by less than $0.50e. increase increase by more than $0.50

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Suppose the government levies a tax of $0.50 per pack on the buyers of cigarettes. suppose also that...
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