Post Utme Wellspring University 2017 Economics Question 33

Practice objective / multiple choice question 33 from the 2017 Post Utme Wellspring University Economics examination.

Post Utme Wellspring University 2017 Economics Objective / Multiple Choice
Question 33 POST_UTME_WELLSPRING_UNIVERSITY • 2017 • ECONOMICS • objective

A government imposes a tax on a good, cau\sing the supply curve to shift to the left. What is the effect on the equilibrium price and quantity?

Answer Options

Correct Answer A. The equilibrium price increases and the equilibrium quantity decreases.
B. The equilibrium price decreases and the equilibrium quantity increases.
C. The equilibrium price remains the same and the equilibrium quantity decreases.
D. The equilibrium price increases and the equilibrium quantity remains the same.
Correct Answer
A
Correct Option:
The equilibrium price increases and the equilibrium quantity decreases.

About This Question

This is Post Utme Wellspring University 2017 Economics Question 33. It is one of the objective questions from the 2017 Post Utme Wellspring University Economics examination.

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