Refer to Scenario 19.4 below to answer the question(s) that follow. SCENARIO 19.4: Suppose demand for widgets is given by the equation P = 10 - 0.25Q. Originally, the price of the good is $5 per unit. When a tax of $1 per unit is imposed, the price of the good rises to $6 per unit.Refer to Scenario 19.4. Prior to the imposition of the tax consumers purchased ________ widgets and after the tax was imposed they purchased ________ widgets.
A. 40; 32
B. 10; 8
C. 16; 20
D. 20; 16
Answer: D
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Long-run equilibrium will occur at the price level at which
A) the aggregate demand and long-run aggregate supply curves intersect. B) the short-run aggregate supply and long-run aggregate supply curves intersect. C) the long-run aggregate demand and short-run aggregate supply curves intersect. D) the aggregate demand and short-run aggregate supply curves intersect.
List the various categories in which a bank's assets are divided?
What will be an ideal response?
In 2013, federal government spending made up approximately __________ percent of GDP in the United States
A) 14 B) 23 C) 34 D) 44 E) 54
One major advantage of a flat tax over the current tax system would be ______.
a. higher earners contributing a greater share b. the ability of tax payers to use more exemptions c. increased employment opportunities for tax accountants d. a simplification of the tax filing process