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In the short run,an excise tax placed on all firms in an increasing-cost competitive industry will result in:
Duties
Obligations or tasks that an individual is required or expected to perform.
Rights
Freedoms or entitlements that individuals are guaranteed by law or social agreement.
Voidable
A legal term referring to a transaction or agreement that is valid but may be annulled by one or more of the parties involved.
Anti-assignment Clause
A provision in a contract that prohibits the transfer of rights or delegation of duties to another party without prior approval.
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