Question: PLEASE DO NOT COPY AND PASTE PREVIOUS ANSWER If Congress levies an additional tax on luxury items, the prices of these items will rise. However,

PLEASE DO NOT COPY AND PASTE PREVIOUS ANSWER

If Congress levies an additional tax on luxury items, the prices of these items will rise. However, this will cause demand to decrease, and s a result the prices will fall back down, perhaps even to their original levels. Do you agree with this statement? Explain.

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