The Graph Illustrates the Market for a Product on Which

Multiple Choice

The graph illustrates the market for a product on which an excise tax has been imposed by government. The excise tax on this product as shown in the graph is ultimately paid

A) 100 percent by consumers
B) 100 percent by producers
C) 75 percent by consumers and 25 percent by producers
D) 50 percent by consumers and 50 percent by producers