Which of the following takes place when a tax is placed on a good?
A) a decrease in the price buyers pay, an increase in the price sellers receive, and a decrease in the quantity sold
B) an increase in the price buyers pay, a decrease in the price sellers receive, and an increase in the quantity sold
C) a decrease in the price buyers pay, an increase in the price sellers receive, and an increase in the quantity sold
D) an increase in the price buyers pay, a decrease in the price sellers receive, and a decrease in the quantity sold
Correct Answer:
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