Multiple Choice
-The table gives the demand and supply schedules for fireworks on the Island of Big Bang. In the past, because many deaths have resulted from accidents involving fireworks, the government has banned fireworks and is enforcing the ban. A $6 a firework penalty on buyers of fireworks and no penalty on sellers will reduce the number of fireworks bought to ________ a week and decrease the price kept by suppliers to ________ a firework.
A) 80; $5
B) 40; $8
C) 0; an unknown amount
D) 140; $3
Correct Answer:

Verified
Correct Answer:
Verified
Q250: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB8586/.jpg" alt=" -The table above
Q251: If the penalty on sellers of an
Q252: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB8586/.jpg" alt=" -The table above
Q253: In order for a price ceiling to
Q254: A tax is imposed on the sale
Q256: The incidence of the tax between buyers
Q257: A minimum wage set above the equilibrium
Q258: Compared to the situation in which a
Q259: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB8586/.jpg" alt=" -In the above
Q260: A tax imposed on buyers raises the