Figure 8-11 -Refer to Figure 8-11.Neither a Shift of the Demand Curve

question 104

Multiple Choice

Figure 8-11
-Refer to Figure 8-11.Neither a shift of the demand curve nor a shift of the supply curve is shown on the figure.However,we know that,when the tax is imposed,

• A)the demand curve will shift.
• B)the supply curve will shift.
• C)either the demand curve or the supply curve will shift.
• D)None of the above are correct;the tax causes neither the demand curve nor the supply curve to shift.

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Definitions:

Coffee Sales

Transactions that involve the buying and selling of coffee products to consumers or businesses.

Total Revenue

The total amount of money generated from the sale of goods or services by a company before any expenses are deducted.

Total Revenue

The total amount of money received by a company from sales of goods or services before any expenses are subtracted.

Price Elasticity

A measure of how much the quantity demanded or supplied of a good changes in response to a change in its price.