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Draw and label a graph depicting a government tax on suppliers of a good (see Chapter...

  1. Draw and label a graph depicting a government tax on suppliers of a good (see Chapter 6 slide 25) (20 points total)
    1. Start with a graph depicting general market equilibrium with the demand curve being relatively less elastic then the supply curve (10 points possible).
    2. Modify the graph to demonstrate the effect of a tax on the supplier on the market (10 points possible).
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