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In the market for land, the quantity of land supplied is 500 acres and the equilibrium rent is $1,000 per acre. If the government increases
In the market for land, the quantity of land supplied is 500 acres and the equilibrium rent is $1,000 per acre. If the government increases the tax on land, what is the rent paid by renters and what is landowners' net-of-tax income? Renters pay ________ per acre and landowners' net-of-tax income per acre ________
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