In the Long Run, a Tax Placed on a Perfectly

question 37

Multiple Choice

In the long run, a tax placed on a perfectly competitive industry should have what effect on the entire market?

• A)Increase the total amount of the good sold.
• B)Decrease the total amount of the good sold.
• C)Not affect the total amount of the good sold.
• D)One cannot tell.

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The intangible value of a business or brand, often reflecting reputation, customer relations, and other non-physical assets.