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The table below represents sales, prices, taxes, marginal deadweight loss and marginal tax revenue. Marginal Marginal tax Deadweight revenue in Sales in Price Tax per
The table below represents sales, prices, taxes, marginal deadweight loss and marginal tax revenue.
Marginal Marginal tax Deadweight revenue in Sales in Price Tax per loss, in thousands in Commodity thousands per unit unit thousands per thousands per of units $0.01 increase $0.01 increase in in tax tax Coffee 1000 $5 $0.50 50 60 Beer 2000 $3 $0.30 30 120 Milk 5000 $2 $0.20 60 40Step by Step Solution
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