If a tax is levied on the sellers of a product,then the supply curve

Name: If a tax is levied on the sellers of a product,then the supply curve
Brand: Quizplus
Rating: 4.9 (54 reviews)

Question

Quizplus · Accepted Answer

If a tax is levied on the sellers of a product, their cost of production increases, which means they require a higher price to earn the same profit. As a result, the supply curve shifts up, indicating that producers will supply less quantity of the product at every price level.

If a Tax Is Levied on the Sellers of a Product,then