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QUESTION
Economics 512 Show the short-run impact of a $2 per unit excise tax imposed on firms in a competitive industry. (Assume the industry is in...
Economics 512
Show the short-run impact of a $2 per unit excise tax imposed on firms in a competitive industry. (Assume the industry is in equilibrium before the tax was imposed.) How would the long-run results differ? What is the impact on efficiency of the tax?
