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Divided between buyers and sellers

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Reference no: EM131571307

Consider what mechanisms allocate resources when the price of a good is not allowed to bring supply and demand into equilibrium.

Consider how to explain why economists usually oppose controls on prices.

Consider how a tax on a goods affect the price paid by buyers, the price received by sellers, and the quantity sold.

Consider what determines how the burden of a tax is divided between buyers and sellers.

Reference no: EM131571307

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