Suppose the Market for Premium Music Streaming Exhibits the Typical

Multiple Choice

Suppose the market for premium music streaming exhibits the typical downward-sloping demand curve and upward-sloping supply curve. A new excise tax placed on music streaming services would lead to _____ consumer surplus, _____ producer surplus, and _____ deadweight loss.

A) higher; lower; higher
B) lower; higher; lower
C) lower; lower; lower
D) lower; lower; higher