Draw a graph to show the effect of the $2 tax

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Effects of a Higher Fish Tax. In Figure 21.10 on page 454, suppose the fish tax is $2 per pound of fish instead of $1. Draw a graph to show the effect of the $2 tax. In the new equilibrium, the price is $________, the quantity is ______, and the deadweight loss from the tax is $__________ .

Reference no: EM131130210

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