Principles of Economics (12th Edition)
12th Edition
ISBN: 9780134078779
Author: Karl E. Case, Ray C. Fair, Sharon E. Oster
Publisher: PEARSON
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Chapter 4, Problem 2.1P
Subpart (a)
To determine
To illustrate the given situation with the supply and demand curves.
Subpart (b)
To determine
To show the quantity purchased when there are free trade and the quantity of imports.
Subpart (c)
To determine
To determine the effect of the imposition of tax on oil price and quantity.
Subpart (d)
To determine
To show the impact of the tax on different categories of people.
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