Post Utme Al Hikmah University 2024 Economics Question 26

Practice objective / multiple choice question 26 from the 2024 Post Utme Al Hikmah University Economics examination.

Post Utme Al Hikmah University 2024 Economics Objective / Multiple Choice
Question 26 POST_UTME_AL-HIKMAH_UNIVERSITY • 2024 • ECONOMICS • objective

Consider a closed economy with a \single good and service. If the government imposes a tax on the production of this good, which of the following will occur?

Answer Options

A. The supply curve will shift to the left.
B. The demand curve will shift to the right.
C. The equilibrium price will increase.
Correct Answer D. The equilibrium quantity will decrease.
Correct Answer
D
Correct Option:
The equilibrium quantity will decrease.

About This Question

This is Post Utme Al Hikmah University 2024 Economics Question 26. It is one of the objective questions from the 2024 Post Utme Al Hikmah University Economics examination.

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