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Michael gets a job working for the government which puts a tax on prepared food (fast food, to-go food, etc) in Illinois.Consider how his tax
Michael gets a job working for the government which puts a tax on prepared food (fast food, to-go food, etc) in Illinois.Consider how his tax would affect Stefania and her customers.If demand for Stefania's is inelastic and Stefania's supply is elastic, who will bear the cost of the tax: Stefania or her customers?How do you know?
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