Shifted forward to the consumers of these products

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In 1991, Congress imposed a 10 percent excise tax on the portion of the retail price of certain items that exceeded the following: $30,000 for automobiles, $100,000 for yachts, and $10,000 for jewelry and furs. Evaluate these taxes using the normative criteria of a good tax structure. In your answer you may assume that these taxes are fully shifted forward to the consumers of these products.

Reference no: EM131388413

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