With a Downsloping Demand Curve and an Upsloping Supply Curve

question 332

Multiple Choice

With a downsloping demand curve and an upsloping supply curve for a product, placing an excise tax on this product will

• A) increase equilibrium price and quantity.
• B) decrease equilibrium price and quantity.
• C) decrease equilibrium price and increase equilibrium quantity.
• D) increase equilibrium price and decrease equilibrium quantity.

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Definitions:

Fungi

A kingdom of organisms that includes yeasts, molds, and mushrooms, which do not carry out photosynthesis and may be decomposers or pathogens.

Bacteria

Microscopic, single-celled organisms found in diverse environments; essential for various biological processes but can also cause disease.

Defective Meiosis

Defective meiosis refers to errors in the process of meiosis, which can result in genetic anomalies such as chromosomal missegregations, leading to infertility or genetic disorders.

Viable Gametes

Reproductive cells (sperm and eggs) that are capable of fertilization and supporting normal development.