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Scenario 12-2 Suppose Ren and Regina receive great satisfaction from their consumption of cheesecake. Regina would be willing to purchase only one slice and would

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Scenario 12-2 Suppose Ren and Regina receive great satisfaction from their consumption of cheesecake. Regina would be willing to purchase only one slice and would pay up to $8 for it. Ren would be willing to pay $11 for his first slice, $9 for his second slice, and $5 for his third slice. The current market price is $5 per slice. Refer to Scenario 12-2. Assume that the government places a $4 tax on each slice of cheesecake and that the new equilibrium price is $9. Which of the following statements is correct? Ren will bear the full burden of the deadweight loss. Regina will bear the full burden of the deadweight loss. Both Regina and Ren will share the burden of the deadweight loss. There will be no deadweight loss

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