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Business, 08.04.2020 00:18 nayelimoormann

10.3. Gadgets are produced and sold in a competitive market. When there is no tax, the equilibrium price is $20 per gadget. The own-price elasticity of demand for gadgets is 0.5.If an excise tax of $4 leads to an increase in the price of gadgets to $24, what must be true about the own-price elasticity of supply for gadgets

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10.3. Gadgets are produced and sold in a competitive market. When there is no tax, the equilibrium p...
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