1. This question pertains to consumer surplus, producer surplus and deadweight loss These 3 concepts are discussed...
Question:
a. Show the impact of a ban on import of sugar on the consumer surplus in the US.
b. Show the impact of a tax (also known as an exercise tax) on the demand of cigarettes, which is an inelastic demand.
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Related Book For
Microeconomics An Intuitive Approach with Calculus
ISBN: 978-0538453257
1st edition
Authors: Thomas Nechyba
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