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Figure 6-9
-Refer to Figure 6-9.What is the share of the tax burden per unit that buyers would pay
Proportional
Relating to or denoting a relationship where a change in one quantity results in a corresponding proportional change in another quantity.
Federal Income Tax
A tax levied by the United States federal government on the annual earnings of individuals, corporations, trusts, and other legal entities.
Income-Tax Filers
Individuals or entities that submit a report of their income to a governmental body to assess tax liabilities.
Efficiency Losses
The reduction in economic welfare resulting from distortions in resource allocation or market behavior.
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