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Scenario 12-1
Ken places a $20 value on a cigar, and Mark places a $17 value on it. The equilibrium price for this brand of cigar is $15.
-Refer to Scenario 12-1. Suppose the government levies a tax of $3 on each cigar, and the equilibrium price of a cigar increases to $18. What is total consumer surplus after the tax is levied?
Customs Brokers
Professionals who assist businesses in navigating the complexities of customs regulations to import and export goods.
Non Vessel-owning Common Carriers
Third-party companies that provide shipment forwarding services without owning the vessels used for transportation, typically organizing logistics for shipping goods.
Near-shoring
The practice of transferring a business operation or service to a nearby country, rather than a far-off location, to reduce costs and improve communication and control.
On-shoring
The practice of bringing business operations back to the company's country of origin from overseas to improve control and reduce costs.
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