A cold summer has reduced the demand for beer; at the same time a tax is placed on alcohol. What can we say about the equilibrium price and quantity of alcohol?
A Equilibrium price rises, equilibrium quantity falls
B Equilibrium price falls, equilibrium quantity is unknown
C We cannot say what will happen to equilibrium prices but know that equilibrium quantity will fall
D We cannot say what will happen to equilibrium prices or equilibrium quantity
1
Expert's answer
2015-07-11T00:00:41-0400
A Equilibrium price rises, equilibrium quantity falls
Numbers and figures are an essential part of our world, necessary for almost everything we do every day. As important…
APPROVED BY CLIENTS
Finding a professional expert in "partial differential equations" in the advanced level is difficult.
You can find this expert in "Assignmentexpert.com" with confidence.
Exceptional experts! I appreciate your help. God bless you!
Comments
Leave a comment