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What percentage of the tax is paid by sellers

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Reference no: EM132066256

Suppose a local government levies an excise tax on movie theaters. Before the tax was implemented, 12,000 movie tickets were sold per month at an average price of $8 per ticket. With the tax in effect, 10,600 tickets are sold, buyers pay $10 per ticket and sellers receive $7.40 per ticket. What percentage of the tax is paid by sellers?

Reference no: EM132066256

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