Multiple Choice
Assuming a normal upward-sloping supply curve and downward-sloping demand curve,if the government imposes a $5 excise tax on leather shoes and collects the tax from the suppliers,the price of leather shoes will:
A) increase by $5.
B) increase by more than $5.
C) increase by less than $5.
D) increase,but we cannot determine by how much.
Correct Answer:
Verified
Correct Answer:
Verified
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