Suppose a Market Is in Equilibrium at Price P0,and Then

question 31

Multiple Choice

Suppose a market is in equilibrium at price P0,and then an excise tax of t dollars per unit of the good is imposed.At a price of (P0 + t) there will be excess for the good unless the demand curve is .

• A)supply; vertical
• B)supply; horizontal
• C)demand; vertical
• D)tax; unit elastic
• E)demand; horizontal

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