Refer to the Graph Shown

question 44

Multiple Choice

Refer to the graph shown. Assume the market is initially in equilibrium at point j in the graph but the imposition of a per-unit tax on this product shifts the supply curve up from S₀ to S₁. The effect of the tax is to raise equilibrium price from:

• A) d to b.
• B) d to c.
• C) c to b.
• D) e to c.

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Definitions:

Reciprocating Machine Element

A component of machinery that moves back and forth or up and down, typically converting rotary motion into linear motion or vice-versa.

Rotating

Refers to an object or part that moves in a circle around an axis or point, commonly seen in machinery and mechanical devices.

Oscillating

Moving or swinging back and forth at a regular speed.

Technical Drawing

The act or discipline of creating diagrams that visually communicate how something functions or is constructed.