The imposition of a new excise tax will A) increase ...

[Charlie]

The imposition of a new excise tax will
 
  A) increase equilibrium price and increase equilibrium quantity.
  B) increase equilibrium price and decrease equilibrium quantity.
  C) decrease equilibrium price and increase equilibrium quantity.
  D) decrease equilibrium price and decrease equilibrium quantity.

Question 2

Suppose that an industry consists of 10 firms, and the top 4 firms have annual sales of 2.5 million, 2 million, 1.5 million, and 1 million, respectively.
 
  If the entire industry has annual sales of 10 million, the four-firm concentration ratio is A) 85 percent.
  B) 50 percent.
  C) 10 percent.
  D) 70 percent.

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Answer to Question 1

B

Answer to Question 2

D

[Charlie]

Thanks for the timely response, appreciate it

[kswal303]

YES! Correct, THANKS for helping me on my review