Instructions:
1. You are asked to write an analytical essay
that responds to the proposition below. You must take a position to
agree or disagree with the proposition. You must defend your position
using appropriate tools from this class, including but not limited to
the concepts and tools of (1) supply and demand, (2) tax incidence and
(3) the price elasticity of demand.
2. What you will need to do
to complete this assignment is to draw on your own paper the appropriate
supply and demand diagram(s)
3. Words like “I think” and “I believe” and purely normative arguments are unacceptable.
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