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Lecture

Q2 Taxing Output (Medium)

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Department
Economics
Course
ECO100Y1
Professor
All Professors
Semester
Fall

Description
Taxing Output (Medium) A commodity has a perfectly elastic supply curve and an elastic (but not perfectly) demand curve. A tax of $1.00 per unit of output (to be paid by the seller) will a) increase market price by less than $1.00 and decrease quantity bought and sold.
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