This Graph Depicts a Tax Being Imposed,causing Demand to Shift

question 145

Multiple Choice

This graph depicts a tax being imposed,causing demand to shift from D₁ to D₂.According to the graph shown,the tax caused:

• A) an increase in consumption from Q₁ to Q₂.
• B) a decrease in consumption from Q₂ to Q₁.
• C) a decrease in the price consumers pay from P₃ to P₁.
• D) a decrease in the price the suppliers receive from P₃ to P₁.

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Definitions:

Efficiency

The ability to accomplish a task or a job with the least waste of time and effort; optimizing output from given inputs.

Organization

A facility or set of coordinated facilities that provide health care.

Resourcefulness

The ability to find quick and clever ways to overcome difficulties.

Mock Accident

A simulated event or situation created to study responses, behaviors, or the effectiveness of safety measures.