Assume the market for gasoline has a perfectly inelastic demand curve and upward sloping supply curve.If a 12 cents per gallon tax was levied on the producers of gasoline, what would happen to the equilibrium quantity?

A. It would stay the same.

B. It would fall.

C. If would rise.

Assume the market for gasoline has a perfectly inelastic demand curve and upward sloping supply curve.If a 12 cents per gallon tax was levied on the producers of gasoline, what would happen to the equilibrium price?

A. No change in the price.

B. Increase exactly 12 cents per gallon.

C. Increase more than 12 cents per gallon.

D. Increase less than 12 cents per gallon.