Suppose the Market Demand for Cigarettes Is: D=10- P, and the Supply

question 75

Multiple Choice

Suppose the market demand for cigarettes is: D=10- P, and the supply of cigarettes is: S=- 2+P, where P is the price per pack of cigarettes. If the government imposes a cigarette tax of $1 per pack, the consumers' tax burden is:

• A)$0.75.
• B)$1.75.
• C)$0.
• D)$0.5.

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