Use the Figure Below to Answer the Following Questions

question 71

Multiple Choice

Use the figure below to answer the following questions.
Table 3.5.2
Demand and Supply Schedules for Cups of Coffee each day at CoolU

-Refer to Table 3.5.2.Professor Hyper publishes a new study,showing that coffee raises the test performance of students.Students double their demand for coffee.This change would be represented as a

• A)leftward shift of the demand curve.
• B)rightward shift of the demand curve.
• C)leftward shift of the supply curve.
• D)rightward shift of the supply curve.
• E)movement up along the demand curve.

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Definitions:

Excise Tax

A tax on specific goods, such as alcohol and tobacco, typically imposed at the point of manufacture or sale.

Total Tax Revenue

The total amount of money collected by the government from taxes, which can come from various sources like income taxes, sales taxes, and corporate taxes.

Shrimp Market

The global or local market involved in the trading and selling of shrimp, encompassing both wild-caught and farmed shrimp.

Excise Taxes

Excise taxes are taxes paid when purchases are made on a specific good, such as gasoline. They are often included in the price of the product.