The diagram below shows supply and demand diagrams (S and D) for some product. The government then imposes an excise tax. The new supply curve is ST.
FIGURE 18- 4
-Refer to Figure 18- 4. What is the value of the tax imposed on this product, in dollars per unit?
A) $3
B) $1
C) $2
D) $5
E) $4
Correct Answer:
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