On a graph, show the excess burden of this tax. Is this tax efficient? Use the following
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On a graph, show the excess burden of this tax. Is this tax efficient? Use the following information to work Problems 3 and 4. The supply of luxury boats is perfectly elastic, the demand for luxury boats is unit elastic, and with no tax on luxury boats, the price is $1 million and 240 luxury boats a week are bought. Now luxury boats are taxed at 20 percent.
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ANSWER Sure here is the graph 12 Luxury Boat ...View the full answer
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