Refer to the Graph Shown

question 137

Multiple Choice

Refer to the graph shown. Initially, the market is in equilibrium with price equal to $12 and quantity equal to 140. As a result of a per-unit tax imposed by the government, the supply curve shifts from S₀ to S₁. The effect of the tax is to:

• A)raise the price consumers pay from $12 to $14.
• B)lower the price consumers pay from $14 to $12.
• C)raise the price sellers keep after paying the tax from $12 to $14.
• D)lower the price sellers keep after paying the tax from $14 to $12.

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Definitions:

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