Cala Maria owns a pet store where she sells exotic aquatic animals, such as pufferfish, turtles, sea horses, and electric eels.

Cala Maria owns a pet store where she sells exotic aquatic animals, such as pufferfish, turtles, sea horses, and electric eels. Suppose that there are fewer buyers in the market AND the government institutes a tax on the sale of exotic animals. What will happen to the equilibrium price and quantity in the exotic animals market? Illustrate what happens in a supply/demand graph. Assume that the shifts are of equal magnitude.

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Rahul Sunny answered 1 year ago

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