3. The supply of luxury boats is perfectly elastic, the demand for luxury boats is unit elastic,...

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3. 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.

What is the price that buyers pay?

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Foundations Of Microeconomics

ISBN: 9780063076280

7th Global Edition

Authors: Bade, Robin;Parkin, Michael

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Question Posted: Nov 07, 2024 08:02 AM

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3. The supply of luxury boats is perfectly elastic, the demand for luxury boats is unit elastic,...

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Foundations Of Microeconomics

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