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The demand for lamps is given by Q = 2000300P, whereas the supply function is P = 1 + Q/100. Given these functions could you
The demand for lamps is given by Q = 2000300P, whereas the supply function is P = 1 + Q/100. Given these functions could you tell who bears the incidence of a $1 per unit tax on the sale of lamps? Who bears the economic incidence?
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