An excise tax of $1.00 per gallon of gasoline placed on the suppliers of gasoline in a market with downward sloping demand and upward sloping supply would raise the equilibrium price.
a. exactly $1.00 per gallon.
b. by less than $1.00 per gallon.
c. by more than $1.00 per gallon.
d. too little information to determine the impact on the equilibrium price.