Suppose that the government raises the tax to $70,000. Now, Scahill would charge a price of $ ◻ and sell ◻ baseballs, and his profit (or loss) will be $ ◻ (Enter your responses As integers) Suppose that the government raises the tax to $70,000.Now, Scahill would charge a price of $16, and sell 4000 baseballs, and his profit (or loss) will be $ 10000. (Enter your responses as

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Answered: Suppose that the government raises the…

Suppose that the government raises the tax to $70,000. Now, Scahill would charge a price of $16, and sell 4000 baseballs, and his profit (or loss) will be $ 10000. (Enter your responses as

Economics (MindTap Course List)

13th Edition

ISBN:9781337617383

Author:Roger A. Arnold

Publisher:Roger A. Arnold

Chapter19: Elasticity

Section19.4: The Relationship Between Taxes And Elasticity

Problem 4ST

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Suppose that the government raises the tax to $70,000.

Now, Scahill would charge a price of $ ◻ and sell ◻ baseballs, and his profit (or loss) will be $ ◻ (Enter your responses As integers)

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