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The demand for pork is given by P=30-2Q and the supply for pork is given by P=3+Q. Suppose that the government decides to impose a
The demand for pork is given by P=30-2Q and the supply for pork is given by P=3+Q. Suppose that the government decides to impose a tax of $3 in the market for pork. Who bears the economic burden of the tax? [1 point for the producer tax incidence, 1 point for the consumer tax incidence]. You must show your work to receive credit.
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