Which of the following statements represents a correct and sequentially accurate

Question

Which of the following statements represents a correct and sequentially accurate economic explanation?
J L: a. A tax is placed on the production of good X, the supply curve of good X shifts to the left, equilibrium price does not change, equilibrium quantity rises, and sellers pay 50 percent of the tax.
b. A tax is placed on the production of good X, the supply curve of good X shifts to the left, equilibrium price rises, equilibrium quantity falls, and buyers pay 100 percent of the tax.
c. A tax is placed on the production of good X, the supply curve of good X shifts to the right, equilibrium price falls, equilibrium quantity falls, and sellers pay 100 percent of the tax.
d. A tax is placed on the production of good X, the supply curve of good X shifts to the left, equilibrium price rises, equilibrium quantity stays constant, and buyers pay 100 percent of the tax.

3.The market for good X is initially in equilibrium at $5. The government then places a tax on the producers of good X-in effect, taxing them on each unit of good X they sell. As a result, the supply curve
Choose one answer.
a. shifts (up and) leftward from S1 to S2.
b. does not shift from S1.
c. shifts (down and) rightward from S2 to S1.
d. There is not enough information to answer the question.

Explanation / Answer

c. A tax is placed on the production of good X, the supply curve of good X shifts to the right, equilibrium price falls, equilibrium quantity falls, and sellers pay 100 percent of the tax.

shifts (down and) rightward from S2 to S1

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