Consider the Market to Be in Equilibrium with Demand Curve

question 127

Multiple Choice

Consider the market to be in equilibrium with demand curve D and supply curve S.
-Refer to the diagram above.Suppose that a $1 per-unit tax is imposed on sellers.The new equilibrium price is ______ and the new equilibrium quantity is ______ units.

• A) $9.20;7
• B) $8.88;8
• C) $8.80;7
• D) $8.20;7
• E) $8.20;8

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Definitions:

Sodium Chloride

A chemical compound known as table salt, widely used in food seasoning and preservation, consisting of sodium and chloride ions.

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Chemical substances made up of atoms of two or more different elements, which are widely found or used in daily life.

Acute Poisoning

A sudden and severe exposure to a toxic substance causing harmful effects.

Multiple Exposure

A photography technique that combines two or more exposures into a single image to produce surrealistic effects.