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Economics

1) Share an example of a current consumer good that is taxed. Please link the article, along with a complete reference for me and fellow students to be able read the full article.

2) Based on your understanding of the elasticity of both demand and supply (you don't need numbers, just base your estimate on the determinants of elasticity) which side of the market (consumers or producers) bear a greater burden of the tax (use figures in ch. 6 Mankiw to support)

3) Do you think that that tax example you shared in 1) offers the "best" solution. Who benefits from this intervention and who loses?

4) What happens to consumer and producer surplus as a result of the tax?

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Microeconomics, Economics

Category:- Microeconomics
Reference No.:- M91229869

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