The graph above represents the market for a product where D 1 and S 1 show the

# The graph above represents the market for a product

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97. The graph above represents the market for a product where D1and S1show the initial supply and demand curves, and supply shifts to S2due to a sales tax. The government's tax revenue is represented by area: A. FIJGB.ACEGC. BCEFD. ABFGAACSB: AnalyticBloom's: Level 3 ApplyDifficulty: 1 EasyLearning Objective: 16-03 Explain the principles relating to tax shifting; tax incidence; and the efficiency losses caused by taxes.Topic: Tax Incidence and Efficiency Loss98. The graph above represents the market for a product where D1and S1show the initial supply and demand curves, and supply shifts to S2due to a sales tax. The deadweight loss due to the tax is represented by area: A.EIGB. EFIC. BCEFD. ABFGAACSB: AnalyticBloom's: Level 3 ApplyDifficulty: 1 EasyLearning Objective: 16-03 Explain the principles relating to tax shifting; tax incidence; and the efficiency losses caused by taxes.Topic: Tax Incidence and Efficiency LossThe following table give data for the market for a product.16-71
Chapter 16 - Public Finance: Expenditures and Taxes99. Refer to the table above. What is the equilibrium price and quantity in this market? A. \$6 and 60, respectivelyB. \$5 and 30, respectivelyC.\$3 and 30, respectivelyD. \$30 and 3, respectivelyAACSB: AnalyticBloom's: Level 3 ApplyDifficulty: 1 EasyLearning Objective: 16-03 Explain the principles relating to tax shifting; tax incidence; and the efficiency losses caused by taxes.Topic: Tax Incidence and Efficiency Loss100. Refer to the table above. If an excise tax of \$3 per unit is imposed on this product, the new equilibrium price with tax will be: A. \$6B.\$5C. \$4D. \$2AACSB: AnalyticBloom's: Level 3 ApplyDifficulty: 3 HardLearning Objective: 16-03 Explain the principles relating to tax shifting; tax incidence; and the efficiency losses caused by taxes.Topic: Tax Incidence and Efficiency Loss101. Refer to the table above. If an excise tax of \$3 per unit is imposed on this product, the incidence of the tax will be: A. \$3 on the buyers and \$0 on the sellersB. \$0 on the buyers and \$3 on the sellersC.\$2 on the buyers and \$1 on the sellersD. \$1 on the buyers and \$2 on the sellersAACSB: AnalyticBloom's: Level 3 ApplyDifficulty: 3 HardLearning Objective: 16-03 Explain the principles relating to tax shifting; tax incidence; and the efficiency losses caused by taxes.Topic: Tax Incidence and Efficiency Loss16-72
Chapter 16 - Public Finance: Expenditures and Taxes102. Refer to the table above. If an excise tax of \$3 per unit is imposed on this product, the taxrevenue for the government will be: A.\$60B. \$50C. \$90D. \$70AACSB: AnalyticBloom's: Level 3 ApplyDifficulty: 3 HardLearning Objective: 16-03 Explain the principles relating to tax shifting; tax incidence; and the efficiency losses caused by taxes.Topic: Tax Incidence and Efficiency Loss

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