If an Excise Tax Is Imposed on Automobiles

question 11

Multiple Choice

If an excise tax is imposed on automobiles,

• A) the demand curve will shift upward and the market price will increase
• B) the supply curve will shift downward and the market price will increase
• C) the supply curve will shift upward and the market price will increase
• D) the equilibrium quantity supplied will increase
• E) the equilibrium quantity demanded will increase

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