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Question 5 (20 points) Consider the market for good X represented in the diagram below. Initially, the equilibrium price for good X is $6 per

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Question 5 (20 points) Consider the market for good X represented in the diagram below. Initially, the equilibrium price for good X is $6 per unit, and the equilibrium quantity is 6 units of good X . The government now puts a $4 tax. (30 points) S Price $12 10 A Tax Price paid = $8 B E 6 C F Price received = $4 D 2 D 2 4 6 8 10 12 Quantity

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