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The quantity q of grapefruits demanded at price p is given by q = 30-3p and the supply schedule by q = 6p. The government imposes a quantity tax at some rate t, which it collects from buyers. What is the smallest tax rate that will result in no grapefruits being bought or sold?

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Microeconomics, Economics

Category:- Microeconomics
Reference No.:- M91234591

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