Reference: Ref 6-4 (Figure: Tax on Supply and Demand) According

question 45

Multiple Choice

Reference: Ref 6-4 (Figure: Tax on Supply and Demand) According to the figure, if the tax is placed on buyers, the equilibrium is at Point:

• A) B, and the equilibrium price and quantity are P3 and Q2.
• B) C, and the equilibrium price and quantity are P3 and Q2.
• C) C, and the equilibrium price and quantity are P1 and Q2.
• D) D, and the equilibrium price and quantity are P2 and Q1.

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Definitions:

Blockchain

A decentralized, distributed ledger technology that records transactions across multiple computers in a way that ensures security and transparency.

Irreversibility

The characteristic of a process or decision that cannot be undone or reversed once it has been initiated.

Social Sustainability

Practices and strategies that promote the well-being of individuals and communities in a way that can be maintained over the long term without depleting resources or causing harm.

Supply Management

The oversight and administration of materials and services inputs, including procurement, inventory control, and vendor selection, to meet business needs.