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The following graph shows the daily market for jeans. Suppose the government institutes a tax of $40.60 per pair.

The following graph shows the daily market for jeans. Suppose the government institutes a tax of $40.60 per pair. This places a wedge between the price buyers pay and the price sellers receive. 

The following graph shows the daily market for jeans. Suppose the government institutes a tax of $40.60 per pair. This places a wedge between the price buyers pay and the price sellers receive. 2000 180 t 1600 t Supply Demand 1400 120 100 Tax Wedge 80 60 40 20 10 20 30 40 50 60 70 80 90 100 QUANTITY Pairs of jeans)


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