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Business, 25.03.2020 00:11 Pipemacias9995

Suppose that the U. S. government decides to charge wine consumers a tax. Before the tax, 25 million bottles of wine were sold every month at a price of $7 per bottle. After the tax, 18 million bottles of wine are sold every month; consumers pay $8 per bottle (including the tax), and producers receive $5 per bottle.

The amount of the tax on a bottle of wine is ___ per bottle. Of this amount, the burden that falls on consumers is per bottle, and the burden that falls on producers is per bottle.

True or False: The effect of the tax on the quantity sold would have been smaller if the tax had been levied on producers.

True

False

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Suppose that the U. S. government decides to charge wine consumers a tax. Before the tax, 25 million...
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