If the government removes a tax on a good, then the price paid by buyers will a)increase, and the price received by sellers will increase b)increase, and the price received by sellers will decrease c)decrease, and the price received by sell
If the government removes a tax on a good, then the price paid by buyers will a)increase, and the price received by sellers will increase b)increase, and the price received by sellers will decrease c)decrease, and the price received by sell
Chapter6: Elasticity
Section: Chapter Questions
Problem 14QP
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Question
If the government removes a tax on a good, then the price paid by buyers will
a)increase, and the price received by sellers will increase
b)increase, and the price received by sellers will decrease
c)decrease, and the price received by sellers will increase
d)decrease, and the price received by sellers will decrease
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