If the government places a 1,000 tax on luxury cars, will the price paid by consumers rise

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If the government places a €1,000 tax on luxury cars, will the price paid by consumers rise by more than €1,000, less than €1,000 or exactly €1,000. Explain.

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Economics

ISBN: 9781408093795

3rd Edition

Authors: Mark P. Taylor, N. Gregory Mankiw

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Question Posted: Nov 04, 2024 07:00 AM

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If the government places a 1,000 tax on luxury cars, will the price paid by consumers rise by more than 1,000, less than 1,000 or exactly 1,000. Explain.
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If the government places a 1,000 tax on luxury cars, will the price paid by consumers rise

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Economics

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