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1)Suppose the government places a sales tax on firms in a price searcher with high barriers industry. Draw a diagram showing the short-run impact and

1)Suppose the government places a sales tax on firms in a price searcher with high barriers 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? (5 points)

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