Kevin Chen

Budget: $15

Solved!

There are 2 industries in a country. The government imposes a $2.00 tax on both. In the long run, price increases by $2.00 in one industry but by $1.50 in the other. Explain why this occurs.

Answer

Tutor Amanda Afi

In the short run, a perfectly competitive market ensures that price=minimum avera...


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