Commercially brewed beer

by | Oct 20, 2021 | Homework Help

Explain how each of the following events will influence the demand or supply of commercially brewed beer, and predict the change in equilibrium price and equilibrium quantity. sales tax on beer increases – i would think of the answer should be: this causes the supply curve for beer shifts to the left due to the higher tax. For a given demand curve, this implies that the equilibrium price has increased while the equilibrium quantity has decreased. Please confirm and advise.

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