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QUESTION 3 Suppose that the government wanted to discourage the consumption of gasoline, as part of an initiative to protect the environment. So the government
QUESTION 3 Suppose that the government wanted to discourage the consumption of gasoline, as part of an initiative to protect the environment. So the government imposes a sales tax on gasoline, to be paid by the sellers (gas stations). As a result, the quantity of gasoline that is bought and consumed will v , the price that buyers pay for gasoline will v . and the revenue kept by gas stations will
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