In a Market with an Upward-Sloping Supply Curve and a Downward-Sloping

question 77

Multiple Choice

In a market with an upward-sloping supply curve and a downward-sloping demand curve, the effects of an excise tax are as follows except:

• A)Consumer surplus will be lower than with no tax.
• B)Producer surplus will be lower than with no tax.
• C)The impact on the government budget will be positive.
• D)The tax will generally lead to a deadweight gain.

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Definitions:

Big Five

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