The imposition of a new excise tax will
A) increase equilibrium price and increase equilibrium quantity.
B) increase equilibrium price and decrease equilibrium quantity.
C) decrease equilibrium price and increase equilibrium quantity.
D) decrease equilibrium price and decrease equilibrium quantity.
B
Economics
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__________ consumption will __________ as a result of a decrease in taxes
A) Autonomous; decrease B) Autonomous; increase C) Induced; decrease D) Induced; increase
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