Use the Following Information to Answer the Following Questions

question 31

Multiple Choice

Use the following information to answer the following questions.
The following graph depicts a market where a tax has been imposed.P_e was the equilibrium price before the tax was imposed,and Q_e was the equilibrium quantity.After the tax,P_C is the price that consumers pay,and P_S is the price that producers receive.Q_T units are sold after the tax is imposed.NOTE: The areas B and C are rectangles that are divided by the supply curve S_T.Include both sections of those rectangles when choosing your answers.

-Which party is responsible for paying this tax out of pocket?

• A) consumers
• B) producers
• C) both consumers and producers
• D) some consumers and some producers,but not all consumers and producers
• E) some consumers and no producers

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Definitions:

Self-actualized Personality

A psychological state or trait in which a person realizes their full potential, acting autonomously and with a sense of fulfilling their capabilities.

Abraham Maslow

An American psychologist best known for creating Maslow's hierarchy of needs, a theory of psychological health predicated on fulfilling innate human needs in priority.

Independence

The state of being self-sufficient and free from outside control, managing one's own affairs without aid or influence.

Creativity

Refers to the ability to generate new and valuable ideas or solutions.