Question

A tax on gasoline that is applied at the point of purchase, like a sales tax, would likely cause an increase in the
O a. gallons of gasoline sold.
O b. price producers receive for gasoline.
O c. price consumers pay for gasoline.
O d. excise taxes on substitutes to motorized forms of transportation.
O e. revenues earned from selling gasoline

Answer 1

The correct option is C. The consumer will have to pay more because the supply of gasoline will decrease, which would put upward pressure on the price.

What is Gasoline?

Gasoline, or petrol, is a transparent, volatile, flammable liquid hydrocarbon mixture used as a fuel, especially for internal combustion engines, and usually blended from several products of natural gas and petroleum.

Thus, the tax on gasoline at the point of purchase would increase the price consumers have to pay for gasoline.

Learn more about Gasoline here:

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