The Demand Curve for Pizza Is Downward Sloping and the Supply

question 157

Multiple Choice

The demand curve for pizza is downward sloping and the supply curve is upward sloping.If the government imposes a $2 tax on a pizza,________ the tax.

• A) only consumers pay
• B) only producers pay
• C) both producers and consumers pay part of
• D) neither producers nor consumers pay part of
• E) the government pays

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Definitions:

Retail Stores

Places of business that sell goods or merchandise directly to consumers, ranging from clothing and groceries to electronics and household items.

Quarterly Art

Art projects or exhibitions that are planned, created, or displayed on a quarterly basis.

Social Responsibility

The obligation of individuals, organizations, and businesses to act in a way that benefits society at large.

Sewer Drains

Infrastructure designed to carry away waste water and storm water from urban and suburban areas to treatment facilities or natural outlets.