Use the Following to Answer Question

question 98

Multiple Choice

Use the following to answer question:
Figure: Model of a Competitive Market
-(Figure: Model of a Competitive Market) Use Figure: Model of a Competitive Market.Given the figure,if a tax is imposed on sellers,the equilibrium price will _____ and the equilibrium quantity will _____.

• A)increase;decrease
• B)remain the same;increase
• C)remain the same;decrease
• D)increase;increase

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Definitions:

Intervention

The act of intervening in a situation or process to improve outcomes or prevent undesirable consequences.

Cognitive Dissonance

The discomfort experienced when holding two or more conflicting cognitions (ideas, beliefs, values, emotional reactions).

Attained Goal

An objective or target that has been successfully achieved.

Effort

The amount of energy, time, or resources expended towards achieving a goal or completing a task.