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question 14

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Use the following to answer questions:
Figure: Tax on Sellers Use the following to answer questions: Figure: Tax on Sellers   -(Figure: Tax on Sellers)  If a $3 tax per unit purchased was placed on buyers instead of sellers, buyers would pay ________ and sellers would receive ________. A)  $3; $6 B)  $6; $3 C)  $4; $6 D)  $4; $3
-(Figure: Tax on Sellers) If a $3 tax per unit purchased was placed on buyers instead of sellers, buyers would pay ________ and sellers would receive ________.


Definitions:

Legal Ability

Refers to the capacity of a party to enter into legally binding contracts and to be held accountable for the commitments made.

Unilateral Contract

A contract where one party makes a promise in exchange for an act by another party, completion of which constitutes acceptance of the contract.

Right to Sue

The legal right of an individual or entity to bring a lawsuit against another party in a court of law.

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