QUIZ8 - If a quantity tax is imposed of t = 10, what is the...

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Econ 301: Intermediate Microeconomic Theory NAME: Korinna K. Hansen Quiz 8 Consider an industry with a short run supply S(p)= 10+p, a demand curve given by D(p) = 90-p, and a long run supply of p=40. Graph these three curves.
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Unformatted text preview: If a quantity tax is imposed of t = 10, what is the incidence of the tax in the short run and what is the incidence in the long run? Show all prices on your graph. Explain briefly what happened....
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