Multiple Choice
Refer to the information provided in Figure 5.7 below to answer the question(s) that follow. Figure 5.7
The above figure represents the market for pumpkins both before and after the imposition of an excise tax, which is represented by the shift of the supply curve.
-Refer to Figure 5.7. The total revenue the government will receive from the imposition of this tax is
A) $875.
B) $1,225.
C) $2,100.
D) $3,600.
Correct Answer:

Verified
Correct Answer:
Verified
Q29: Price and total revenue are directly related
Q30: If the cross-price elasticity of demand between
Q31: Refer to the information provided in Figure
Q32: Suppose a decrease of 7% in the
Q33: The income elasticity of demand for low-quality
Q35: The cross-price elasticity of demand between good
Q36: The income elasticity of demand is calculated
Q37: A government wants to reduce electricity consumption
Q38: The price elasticity of demand for kale
Q39: A mass transit authority charges bus fares