Examlex

Solved

Use the Following to Answer Question

question 190

Multiple Choice

Use the following to answer question: Use the following to answer question:   -(Figure: The Gasoline Market) Use Figure: The Gasoline Market.The pretax equilibrium price is $3,and the equilibrium quantity before tax is 20,000 gallons.An excise tax has been levied on each gallon of gasoline supplied by producers,shifting the supply curve upward.The total tax revenue collected by the government is equal to: A) $1.50. B) $15,000. C) $26,250. D) $30,000.
-(Figure: The Gasoline Market) Use Figure: The Gasoline Market.The pretax equilibrium price is $3,and the equilibrium quantity before tax is 20,000 gallons.An excise tax has been levied on each gallon of gasoline supplied by producers,shifting the supply curve upward.The total tax revenue collected by the government is equal to:


Definitions:

Papillae

Small sensory projections on the tongue responsible for taste sensation.

Optic Chiasm

A structure located at the base of the brain where the optic nerves partially cross, allowing visual information from each eye to be processed by both hemispheres of the brain.

Olfactory Epithelium

A specialized tissue inside the nasal cavity that is responsible for detecting odors through the binding of odor molecule to receptor neurons.

Cochlear Implants

Electronic devices that partially restore hearing by directly stimulating the cochlear nerve in the inner ear.

Related Questions