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Refer to the figure below. If the supply curve for labour can be written as L = w/2 - 3/2 and the initial wage was $10, how much excess burden is created if there is a tax on wages of $2?
Purchasing Habits
Patterns or behaviors exhibited by consumers in the process of buying goods and services.
Middle Adulthood
A period of life, typically between the ages of 40 and 65, characterized by stability, personal and professional growth, and increased awareness of aging.
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