An excise tax of $1.00 per gallon of gasoline placed on the suppliers of gasoline would shift the supply curve

A. up by less than $1.00.
B. down by $1.00.
C. up by $1.00.
D. down by more than $1.00.


Answer: C

Economics

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Fill in the blank(s) with correct word.

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What is the significance of the slope on a two-product budget line? What effect does a change in income have on the slope? A change in product price?

Please provide the best answer for the statement.

Economics