Question

20. Which of the following conditions must hold in the equilibrium of a competitive market where the government puts a specific tax on consumers? A. The quantity demanded must equal the quantity suppliedB. The difference between the price the buyer pays and the price the seller receives must equal the specific taxC. The quantity sold and the price paid by the buyer must lie on the demand curve. D. The quantity sold and the seller's price must lie on the supply curve.E. All of the above.

Answer 1

Answer: A

Step-by-step explanation: