Macroeconomics
Macroeconomics
11th Edition
ISBN: 9781260506891
Author: Colander
Publisher: MCG
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Chapter 1.1, Problem 2Q
To determine

Explain which an individual would sell if $15 is needed. 

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Suppose that initially a seller's "bottom line" asking price for a particular car is equal to $23,000.  However, a new tax is instituted that will tax the seller in the amount of 10% on the sale.  What is the seller's new "bottom line" after factoring in the new tax?
Do you think taxpayers would be willing to pay higher property taxes if the revenue is earmarked for a specific purpose?
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