What is the effect of a $1 specific tax collected from producers on equilibrium price and quantity if supply is perfectly elastic? Price is unchanged and quantity decreases increases by $1 is unchanged
What is the effect of a $1 specific tax collected from producers on equilibrium price and quantity if supply is perfectly elastic? Price is unchanged and quantity decreases increases by $1 is unchanged
Chapter4: Demand, Supply, And Market Equilibrium
Section: Chapter Questions
Problem 24P
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