If the government puts a $2 excise tax on a product and as a result, price rises by $0.75, which of the following statements is correct?

A.The government's tax revenue falls.

B.The quantity demanded of the product falls by 37.5%.

C.The sellers pay more of the tax than the buyers.

D.The buyers pay more of the tax than the sellers.

E. The quantity demanded of the product rises by 37.5%.