O-LevelEconomicsThe allocation of resources2281/11 · May/June 2015 · Q191 Mark
The government reduces the rate of income tax and increases the rate of tax on producers. From the initial equilibrium point X, which letter indicates the new equilibrium point in the market?
This question uses a diagram from the original paper, which isn't shown here. Open the full paper from the past papers archive to see it.
A[Point A]
B[Point B]
C[Point C]
D[Point D]
✓ Correct answer
B: [Point B]
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