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The figure given below shows the demand and supply curves of automobiles. Figure 13.3 In the figure,
D: Demand curve of automobiles
S: Supply of automobiles prior to the tax
S+t: Supply of automobiles after the tax
-According to Figure 13.3,the market attains equilibrium before the tax at:
Henry George
A 19th-century economist known for his theory that the economic value derived from land should belong to all members of society, popularizing the single tax idea.
Edward Bellamy
An American author and socialist, best known for his utopian novel, "Looking Backward", which envisions a future society based on cooperation and economic equality.
Freedom
Liberty or autonomy to act, voice views, or think as one pleases, free from any confinement or control.
Effective Freedom
The actual ability and means to exercise one's rights and freedoms, as opposed to merely having them guaranteed by law.
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