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What are the contents in the market strikes back?
a. Price controls
• Price ceiling
• Price floor
b. Quantity controls quota
c. Excise tax
d. Inefficiency
Instructions For the following 10 questions, consider an economy which is initially in equilibrium without a tax, with P* of $90 and Q* of 10. Later, a tax is put on the market
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effects of tax increase on the gross domestic product
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