Illustrate what might be the long run effect of raising

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When a gobernment wants to increase tax revenue, they will often increase the sales tax on gasoline. Using the price eleasticity of demand, explain why the tax would be placed on gasoline rather than, say yachts. Illustrate what might be the long run effect of raising the price of gas?

Reference no: EM1357241

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Illustrate what might be the long run effect of raising : explain why the tax would be placed on gasoline rather than, say yachts. Illustrate what might be the long run effect of raising the price of gas.

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