Multiple Choice
Which of the following statements about excise taxes is TRUE?
A) The producer will increase the price of the good by the amount of the excise tax.
B) The equilibrium price will increase and the equilibrium quantity will remain unchanged.
C) Both the consumer and producer pay part of the excise tax.
D) Consumers will refuse to pay excise taxes forcing the producers to pay it.
Correct Answer:
Verified
Correct Answer:
Verified
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