Multiple Choice
If a good is produced by an increasing-cost competitive industry and the demand for its product is elastic,the imposition of a per-unit tax on producers will cause price to _____ in the short run.
A) rise by the amount of the tax
B) fall by the amount of the tax
C) rise by less than the amount of the tax
D) fall by more than the amount of the tax
Correct Answer:
Verified
Correct Answer:
Verified
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