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1. What was the equilibrium price in this market before the tax? 2. As the figure is drawn, who sends the tax payment to the

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1. What was the equilibrium price in this market before the tax? 2. As the figure is drawn, who sends the tax payment to the government? 3. What is the amount of the tax? 4. How much of this tax will the buyers pay? 5. How much of this tax will the sellers pay?

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