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Question 4 1 pts {1 pt] Assume the market for gasoline has a perfectly inelastic demand curve and upward-sloping supply curve. If a 20-cents-pergallon tax

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Question 4 1 pts {1 pt] Assume the market for gasoline has a perfectly inelastic demand curve and upward-sloping supply curve. If a 20-cents-pergallon tax was levied on the producers of gasoline, what would happen to the equilibrium quantity? 0 It would stay the same. 0 It would fall. 0 It would rise. ) Question 5 2 p13 {2 ptsl Assume the market for gasoline has a perfectly inelastic demand curve and upward-sloping supply curve. If a 20-cent5-per-gallon tax was levied on the producers of gasoline, what would happen to the equilibrium price? 0 Increase exactly 20 cents per gallon 0 Increase less than 20 cents per gallon 0 Increase more than 20 cents per gallon O No change in the price

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