Consider the following market. 110+ 100 90 80 70 Price 60 28 50 45 939 40 30 20 588 10- Supply Demand 10 20 30 40 50 60 70 80 90 100 110 120 130 140 150 160 170 Quantity Assume government imposes a tax of $35 per unit in this market. what will be the total tax revenue? $1125 $625 $1750 $250

Consider the following market. 110+ 100 90 80 70 Price 60 28 50 45 939 40 30 20 588 10- Supply Demand 10 20 30 40 50 60 70 80 90 100 110 120 130 140 150 160 170 Quantity Assume government imposes a tax of $35 per unit in this market. what will be the total tax revenue? $1125 $625 $1750 $250

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

Consider the following market.
↑ Price
110
100
90
28
80
70
60-
50
48
45
40-
30
20
10+
Supply
Demand
10 20 30 40 50 60 70 80 90 100 110 120 130 140 150 160 170 Quantity
Assume government imposes a tax of $35 per unit in this market. what will be the total tax
revenue?
$1125
$625
$1750
$250

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