The graph shown demonstrates a tax on sellers. After the tax is in place, buyers purchase _______ units, and the post-tax price paid for each one is _______.
Definitions:
Government
Government is the system or group of people governing an organized community, often a state.
Price Ceiling
A government-imposed limit on the price charged for a product, intended to prevent the price from rising to a certain level.
Maximum Price
A price ceiling set by a government or regulatory body, above which a particular good or service cannot be sold.
Government
The governing body of a nation, state, or community which is responsible for making and enforcing laws and managing public resources and affairs.
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