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Government increases the taxes on car ownership. Explain the possible market outcomes of such a decision.
As this is a tax paid by owners, and therefore not levied indirectly via suppliers in selling cars, one can expect reduce in the demand for cars and enhance in demand for possible substitutes. (Basically, the ownership tax may be regarded as a complement to car ownership.) One could also expect a reduce in demand for complement goods for cars, like gasoline, insurance, servicing, etc
on what grounds is consumer surplus criticised?
What is framework in the Modern Economics? Framework in the Modern Economics: The framework is a framework which uses to deal along with daily activities and is utilized to
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What are the factors that producers in the society may take into consideration when deciding on the what to produce,how to produce and for whom ?
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