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You’ve fueled up with the
Commodity Taxes
video from the
Principles of Economics: Microeconomics
course.
Let's start exercising that brain!
Fill in the blanks: As long as supply and demand curves have their normal shape (the demand curves have a negative slope while supply curves have a positive slope), if there is a tax, the equilibrium quantity must _______ and the price that buyers pay must _______.
*
a. Fall; rise
b. Fall; fall
c. Rise; fall
d. Rise; rise
Fill in the blanks: As long as supply and demand curves have their normal shape (the demand curve has a negative slope while supply curves have appositive slope), if there is a tax, the equilibrium quantity must _______ and the price that sellers receive must _______.
*
a. Fall; rise
b. Fall; fall
c. Rise; fall
d. Rise; rise
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