Refer to the information provided in Figure 5.7 below to answer the question(s) that follow. Figure 5.7
The above figure represents the market for pumpkins both before and after the imposition of an excise tax, which is represented by the shift of the supply curve.
-Refer to Figure 5.7. Before the tax, store owners are willing to sell ________ pumpkins at a price of ________ each.
A) 1,200; $5.50
B) 700; $7.25
C) 0; $8.50
D) 1,200; $8.50

Question

Refer to the information provided in Figure 5.7 below to answer the question(s) that follow.  Figure 5.7
The above figure represents the market for pumpkins both before and after the imposition of an excise tax, which is represented by the shift of the supply curve.
-Refer to Figure 5.7. Before the tax, store owners are willing to sell ________ pumpkins at a price of ________ each.
A) 1,200; $5.50 
B) 700; $7.25 
C) 0; $8.50 
D) 1,200; $8.50

Quizplus · Accepted Answer

Before the tax, store owners are willing to sell 1,200 pumpkins at a price of $5.50 each, as indicated by the supply curve at that price point.

Refer to the Information Provided in Figure 5