Business, 19.02.2020 19:47 jaidxxxz

Congress and the President decide that the United States should reduce air pollution by reducing its use of gasoline. They impose a $0.50 tax on each gallon of gasoline sold.

Suppose they decided to impose the tax on consumers.

In the following graph, shows the effect of a $0.50 tax on each gallon of gasoline sold imposed on consumers by shifting the demand or supply curve.

True or False: The price producers receive will be lower if the tax were imposed on consumers.

True

False

If the demand for gasoline were more elastic, this tax would be effective in reducing the quantity of gasoline consumed.

True or False: Consumers of gasoline are helped by this tax.

True

False

Workers in the oil industry are by this tax.

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Congress and the President decide that the United States should reduce air pollution by reducing its...

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