How is the market for gasoline affected if the excise tax on gasoline is reduced? a) The
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Question:
How is the market for gasoline affected if the excise tax on gasoline is reduced?
a) The supply of gasoline increase
b) The equilibrium quantity of gasoline degreases
c) The equilibrium price of gasoline increases
d) The supply of gasoline decreases?
Expert Answer:
When excise tax is imposed on a commodity the supply curve of the respective ... View the full answer
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