A-LevelEconomicsThe price system and the microeconomy9708/12 · May/June 2018 · Q91 Mark
The diagram shows S₁ and D₁, the original supply and demand curves for fast food in an economy. Point X is the original equilibrium. Fast food is an inferior good. What would be the new equilibrium position following a tax imposed on fast food and a fall in real income?
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AA
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✓ Correct answer
A: A
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