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Te city implements a 100 tax on each owners pretzel stand

Street vendors in New York City sell soft pretzels in a perfectly competitive industry that is initially in long run equilibrium. The city implements a $100 tax on each owner's pretzel stand. How does this tax affect the equilibrium quantity of pretzels consumed in the short run and in the new long run?

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Business Management: Te city implements a 100 tax on each owners pretzel stand

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Business Management: Te city implements a 100 tax on each owners pretzel stand

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