Which of the Following Quantities Decrease in Response to a Tax

question 96

Multiple Choice

Which of the following quantities decrease in response to a tax on a good?

• A)the equilibrium quantity in the market for the good,the effective price of the good paid by buyers,and consumer surplus
• B)the equilibrium quantity in the market for the good,producer surplus,and the well-being of buyers of the good
• C)the effective price received by sellers of the good,the wedge between the effective price paid by buyers and the effective price received by sellers,and consumer surplus
• D)None of the above is necessarily correct unless we know whether the tax is levied on buyers or on sellers.

Recognize the enforceability and limitations of clauses within a contract, such as liquidated damages clauses and exclusive remedy clauses.

Understand the concept of restitution and the conditions under which it may be awarded.

Identify the legal bases for rescinding a contract and the effects of rescission.

Comprehend the significance of the Statute of Frauds in enforcing oral contracts and the exceptions.

---

Definitions:

S-trans Conformation

A spatial arrangement in which substituent groups are on opposite sides of a double bond or single bond in a chain, leading to a more extended structure.

Heats Of Hydrogenation

The change in enthalpy that occurs when a compound is hydrogenated, often used to measure the stability of double or triple bonds.

ΔH

Symbol for enthalpy change, representing the amount of heat absorbed or released during a chemical reaction at constant pressure.

π Molecular Orbitals

Orbitals formed by the overlap of p orbitals on adjacent atoms, allowing for the delocalization of electrons above and below the plane of the atoms, typically found in unsaturated compounds.