Micro Economics MCQ (GK Set-1) with Answers

supply curve downward by the size of the tax per unit

supply curve upward by the size of the tax per unit

demand curve upward by the size of the tax per unit

demand curve downward by the size of the tax per unit

demand curve downward by the size of the tax per unit.

supply curve downward by the size of the tax per unit.

demand curve upward by the size of the tax per unit.

supply curve upward by the size of the tax per unit

a decrease in the price buyers pay, an increase in the price sellers receive, and a decrease in the quantity sold

an increase in the price buyers pay, a decrease in the price sellers receive, and an increase in the quantity sold

a decrease in the price buyers pay, an increase in the price sellers receive, and an increase in the quantity sold

an increase in the price buyers pay, a decrease in the price sellers receive, and a decrease in the quantity sold

the tax burden falls most heavily on the buyers.

the buyers bear the burden of the tax

the sellers bear the burden of the tax

the tax burden on the buyers and sellers is the same as an equivalent tax collected from the sellers

places a tax wedge of Rs.1.00 between the price the buyers pay and the price the sellers receive

decreases the price the sellers receive by Rs.1.00 per litre

increases the price the buyers pay by Rs.1.00 per litre

increases the price the buyers pay by precisely Rs.0.50 and reduces the price received by sellers by precisely Rs.0.50