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Figure 4.5 shows a shift of the supply curve for a product from S-(Answered)

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Question

Figure 4.5 shows a shift of the supply curve for a product from S1 to S2, as a result of a tax levied on the product. The amount of the tax is _____ and the amount of the tax the consumers bear is _____.

a.

P2 ? P1; P3 ? P2

b.

P3 ? P1; P3 ? P2

c.

P3 ? P1; P2 ? P1

d.

P3 ? P2; P2 ? P1

e.

P2 ? P1; P3 ? P1

 

Paper#9209037 | Written in 27-Jul-2016

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