6. Suppose the government places a sales tax on firms in a monopolistically competitive industry. Draw a
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6. Suppose the government places a sales tax on firms in a monopolistically competitive industry. Draw a diagram showing the short-run impact and the adjustment to the new long-run industry equilibrium. What happens to the equilibrium price and number of firms in the industry?
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Related Book For 
Principles Of Microeconomics
ISBN: 9784492370292
6th Edition
Authors: John B. Taylor, Akila Weerapana
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