If the demand curve for hamburgers is downward sloping and the supply curve for hamburgers is upward sloping, then a tax imposed on hamburgers ________ the price paid by buyers and ________ the price received by sellers.
A) lowers; lowers
B) raises; raises
C) raises; lowers
D) lowers; raises
E) does not change; does not change
Ans: C) raises; lowers
Economics
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The above figure shows the marginal private cost curve, marginal social cost curve, and marginal social benefit curve for cod, a common resource. The market equilibrium with no government intervention is ________
A) 0 tons per week B) 400 tons per week C) 300 tons per week D) None of the above answers is correct.
Economics
Other things equal, a particular job will likely pay a higher wage if it involves
a. danger to the worker. b. personal enjoyment for the worker. c. intellectual stimulation for the worker. d. All of the above are correct.
Economics