Multiple Choice
If the government imposes an excise tax on cars equal to $5,000 per automobile, the supply of automobiles will shift to the:
A) left and the price of automobiles will increase by $5,000.
B) left and the price of automobiles will increase by an unknown amount.
C) right and the price of automobiles will decrease by $5,000.
D) right and the price of automobiles will decrease by an unknown amount.
Correct Answer:
Verified
Correct Answer:
Verified
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