If a $1 Sales Tax Is Imposed on the Sale

question 268

Multiple Choice

If a $1 sales tax is imposed on the sale of a CD,and neither the demand nor the supply is perfectly elastic or perfectly inelastic,then the price of a CD paid by consumers will

• A) increase by $1 and fewer CDs will be bought.
• B) increase by less than $1 and fewer CDs will be bought.
• C) not change and the same number of CDs will be bought.
• D) increase by $1 and the same number of CDs will be bought.
• E) increase by more than $1 and fewer CDs will be bought.

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The Diagnostic and Statistical Manual of Mental Disorders, Fifth Edition, a handbook used by healthcare professionals as the authoritative guide to diagnosing mental disorders.