Use the Figure Below to Answer the Following Question(s)

question 109

Multiple Choice

Use the figure below to answer the following question(s) .
Figure 4-7

-Refer to Figure 4-7.The supply curve S₁ and the demand curve D indicate initial conditions in the market for gasoline.A $.60-per-gallon excise tax on gasoline is levied,which shifts the supply curve from S₁ to S₂.Imposing the tax causes the equilibrium price of gasoline to increase from

• A)$.80 to $1.40.
• B)$.80 to $1.50.
• C)$.90 to $1.50.
• D)$.90 to $1.40.

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