How much would you expect the equilibrium price paid by


The current equilibrium price in a competitive market is $100. The price elasticity of demand is 4 and the price elasticity of supply is +2. If an excise tax of $3 per unit is imposed, how much would you expect the equilibrium price paid by consumers to change? How much would you expect the equilibrium price received by producers to change?

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Econometrics: How much would you expect the equilibrium price paid by
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