Assume that in a competitive market long run supply and, Business Economics

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Assume that in a competitive market long run supply and

Assume that, in a competitive market, long run supply and demand is more elastic than short run supply and demand. Suppose that the government imposes a transactions tax in this market. In the long run, the tax will collect [less/more] revenue and cause [less/more] efficiency loss, than it did in the short run.

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Business Economics: Assume that in a competitive market long run supply and

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Business Economics: Assume that in a competitive market long run supply and

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