1 if long run supply is given by p 8 and demand is p 20


1. If long run supply is given by P = 8 and demand is P = 20 - .25Q

a. Calculate the long run excess burden of a $1 per unit tax.

b. Calculate the long run excess burden of a $1 per unit subsidy.

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Business Management: 1 if long run supply is given by p 8 and demand is p 20
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