In Graphical Form,the Effect of Imposing a Tax on a Good

question 139

Multiple Choice

In graphical form,the effect of imposing a tax on a good is shown as

• A) a leftward shift of the market supply curve.
• B) a rightward shift of the market supply curve.
• C) a downward movement along the market supply curve.
• D) no change to the market supply curve.

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Definitions:

Major Product

The primary product of a chemical reaction that is formed in the greatest quantity compared to other products.

Phthalic Acid

An aromatic dicarboxylic acid, with formula C6H4(CO2H)2, it is used as a precursor to other chemicals such as dyes, perfumes, and plastics.

Acid Derivative

A compound obtained by replacing one or more of the hydroxyl groups of an acid with an organic group.

Anhydride

A compound formed from the removal of water molecules between two carboxylic acid molecules.