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3. Fuji Apples are a basic type of fruit that many people enjoy but can often be substituted for Gala apples or Honeycrisp apples. a.
3. Fuji Apples are a basic type of fruit that many people enjoy but can often be substituted for Gala apples or Honeycrisp apples. a. Draw the market for Fuji Apples below drawing the supply and demand curves carefully. Label each axis and curve? (4 points) b. In an effort to raise money for a clean water campaign a tax is imposed of $0.25 on Fuji Apples. Show the tax? (4 points) c. Who bears the majority of the burden of the tax? Explain why this makes sense intuitively. (4 points) 3. Fuji Apples are a basic type of fruit that many people enjoy but can often be substituted for Gala apples or Honeycrisp apples. a. Draw the market for Fuji Apples below drawing the supply and demand curves carefully. Label each axis and curve? (4 points) b. In an effort to raise money for a clean water campaign a tax is imposed of $0.25 on Fuji Apples. Show the tax? (4 points) c. Who bears the majority of the burden of the tax? Explain why this makes sense intuitively. (4 points)
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