Figure 8-6

-Refer to Figure 8-6.What is the equilibrium market price before the tax is imposed
A)$4
B)$8
C)$12
D)$16

Name: Figure 8-6 -Refer to Figure 8-6.What is the equilibrium market price before the tax is imposed A)$4 B)$8 C)$12 D)$16
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Question

Figure 8-6
 
-Refer to Figure 8-6.What is the equilibrium market price before the tax is imposed
A)$4 
B)$8 
C)$12 
D)$16

Quizplus · Accepted Answer

The equilibrium market price before the tax is imposed is where the supply and demand curves intersect, which is at $12 in this case. This is where the quantity demanded equals the quantity supplied without any external influence, such as a tax.

Figure 8-6 -Refer to Figure 8-6.What Is the Equilibrium Market Price Before