Question: Use supply and demand analysis to explain why the equilibrium price of apples will rise and the equilibrium quantity will fall if an excise tax is levied on apples. Explain why the price of apples will not rise by the full amount of the tax.
Format your paper consistent with APA guidelines. Be sure to properly cite your references. If you used an electronic source, include the URL. If you used a printed source, attach a copy of the data to your paper.