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Market for Lattes $4.50 $4.00 $3.50 $3.00 $2.50 Price (per latte) $2.00 $1.50 $1.00 $0.50 $0.00 0 200 400 600 800 1000 1200 1400 1600

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Market for Lattes $4.50 $4.00 $3.50 $3.00 $2.50 Price (per latte) $2.00 $1.50 $1.00 $0.50 $0.00 0 200 400 600 800 1000 1200 1400 1600 1800 Quantity of Lattes (cups) The market for lattes is in a competitive equilibrium, as shown above. The government decides to impose a $1.50 excise tax on latte producers. After the tax is imposed what is the total tax revenue collected by the government? 200 800 600 400 Type here to search O

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