Figure 8-8 Suppose the government imposes a $10 per unit tax on a good. One effect of the tax is to
A. create a deadweight loss of $60.
B. reduce producer surplus by $72.
C. reduce consumer surplus by $108.
D. All of the above are correct.
Answer: D. All of the above are correct.
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What will be an ideal response?
A company purchased $8900 of merchandise on June 15 with terms of 3/10, n/45. On June 20, it returned $445 of that merchandise. On June 24, it paid the balance owed for the merchandise taking any discount it was entitled to. The cash paid on June 24 equals:
A. $8633. B. $8201. C. $8246. D. $8900. E. $8455.
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