Homework Answers
When the government places a tax on a good and all else is held
constant, then the most likely happen is
The overall consumption of the good decreases, assuming the good
does not have a vertical demand curve.
Ans is b) The overall consumption of the good decreases, assuming the good does not have a vertical demand curve.
It is so because when the tax is imposed on a good, the price of the good increases for consumers and decreases for producers, that's why the overall consumption fall ( when demand curve is not vertical).
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