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Figure 5-3 S, = So + tax $13.00 12.75 Price 12.00 11.75 O Quantity Refer to the above Figure 5-3. It shows the supply curve

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Figure 5-3 S, = So + tax $13.00 12.75 Price 12.00 11.75 O Quantity Refer to the above Figure 5-3. It shows the supply curve for a product before tax (SO) and after an excise tax is imposed ($1). Buyers pay more of the tax than do sellers pay. True O False

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