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Author Question: How would the market for coffee be affected if the government charged an excise tax of 1.00 on each ... (Read 37 times)

Diane

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on: Jun 29, 2018
How would the market for coffee be affected if the government charged an excise tax of 1.00 on each unit of coffee sold?
 
  A) There would be a shortage of coffee.
  B) The demand for coffee would increase.
  C) The demand for coffee would decrease.
  D) The supply curve would shift up vertically by 1.00.

Question 2

When the government sets a maximum price that can be charged for a good or service, it creates
 
  A) a price support.
  B) a price floor.
  C) a white market.
  D) a price ceiling.


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meganlapinski

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Reply #1 on: Jun 29, 2018
Answer to Question 1

D

Answer to Question 2

D


Diane

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Reply 2 on: Jun 29, 2018
Great answer, keep it coming :)

lcapri7

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

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