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A Tax on Bicycles That Buyers of Bicycles Are Required

Question 129

Multiple Choice

A tax on bicycles that buyers of bicycles are required to pay shifts


A) the demand curve downward, causing both the price received by sellers and the equilibrium quantity to fall.
B) the demand curve upward, causing both the price received by sellers and the equilibrium quantity to rise.
C) the supply curve downward, causing the price received by sellers to fall and the equilibrium quantity to rise.
D) the supply curve upward, causing the price received by sellers to rise and the equilibrium quantity to fall.

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