Neither the demand nor the supply of automobiles is perfectly elastic or inelastic.If the government imposes a $1,000 tax on automobiles,then the price of an automobile buyers pay
A) increases by $1,000.
B) increases by less than $1,000.
C) increases by more than $1,000.
D) decreases by $1,000.
E) does not change.
Correct Answer:
Verified
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