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Using Test Procedures That Require Mastery of a Given Level

question 1

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Using test procedures that require mastery of a given level or set of words:

Understand the influence of taxes on the equilibrium quantity of goods.
Identify the per-unit burden of taxation on sellers and buyers.
Recognize the relationship between the size of a tax and its resulting deadweight loss.
Understand how taxes influence buyer and seller behaviors in terms of market participation and economic welfare.

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