Answered

Welcome to Westonci.ca, where you can find answers to all your questions from a community of experienced professionals. Discover in-depth answers to your questions from a wide network of experts on our user-friendly Q&A platform. Get detailed and accurate answers to your questions from a dedicated community of experts on our Q&A platform.

If the government increases the excise tax on a gallon of gasoline we can expect the supply curve to shift rightward, quantity demanded to fall, and price to rise.

Sagot :

If the government raises the excise tax of the product then supply curve tends to shift leftwards. Therefore, The above statement is false.

What is Supply Curve?

The supply curve refers to the graphical representation of the supply and the prices of the commodity. It tells how the supply of the commodity affects the prices of the product.

The complete question is attached below.

According to the above situation, when government increases the taxes of the gallon of gasoline then the supply curve will shift leftwards as the supply decreases.

It will lead to the increment in the level of the prices as the demand of the product will fall. Therefore, the above statement is false.

Learn more about supply curve here:

https://brainly.com/question/15533680

#SPJ1

View image nikitavidya0
Thank you for visiting. Our goal is to provide the most accurate answers for all your informational needs. Come back soon. Thank you for visiting. Our goal is to provide the most accurate answers for all your informational needs. Come back soon. Thank you for using Westonci.ca. Come back for more in-depth answers to all your queries.