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Answer to Question #53243 in Microeconomics for EMMA

Question #53243
A cold summer has reduced the demand for beer; at the same time a tax is placed on alcohol. What can we say about the equilibrium price and quantity of alcohol?

A Equilibrium price rises, equilibrium quantity falls
B Equilibrium price falls, equilibrium quantity is unknown
C We cannot say what will happen to equilibrium prices but know that equilibrium quantity will fall
D We cannot say what will happen to equilibrium prices or equilibrium quantity
Expert's answer
A Equilibrium price rises, equilibrium quantity falls

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