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Consider the following supply and demand schedule of chocolate. Price ($) Quantity demanded (units) Quantity supplied (units) 50 5 3 60 4 4 70 3
Consider the following supply and demand schedule of chocolate. Price ($) Quantity demanded (units) Quantity supplied (units) 50 5 3 60 4 4 70 3 5 80 2 6 90 7 Suppose initially the chocolate market is in equilibrium. If the government imposes a tax of $20 for each unit of the chocolate sold, the new equilibrium price paid by the consumers will be $[Answer]. (In integers, please.) Answer: Check
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