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Consider a small country with the following demand and supply functions: Q D = 100- P Q S = P - 10 The price of
Consider a small country with the following demand and supply functions:
QD = 100- P
QS = P - 10
The price of the product in the international market is $20. If the government imposes a specific tax ($1 per unit), what will be the net change in social welfare?
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