Exhibit 19-8 ​

question 40

Multiple Choice

Exhibit 19-8
​

-Refer to Exhibit 19-8. The market for good X is initially at point A. A tax is then placed on the production of good X. As a result, the equilibrium price changes to __________, and sellers now receive __________ per unit they sell and they get to keep __________ for each unit they sell.

• A)$11; $10; $9
• B)$11; $11; $9
• C)$12; $11; $10
• D)$12; $11; $9
• E)$11; $12; $10

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Definitions:

Check

A written, dated, and signed instrument that contains an unconditional order directing a bank to pay a definite sum of money to a payee.

Impostor

An individual who deceives others by assuming a false identity or title, often to gain certain advantages, access, or to commit fraud.

Primarily Liable

Refers to the party that is first and foremost responsible for fulfilling an obligation or making restitution.

Negotiable Instrument

A written document guaranteeing the payment of a specific amount of money either on demand or at a set time, with the payer named on the document.