Use the Following to Answer Question

question 88

Multiple Choice

Use the following to answer question:
-(Figure: The Shrimp Market) Use Figure: The Shrimp Market.If the government wants to limit shrimp sales to 500 pounds,it can impose a _____ excise tax on sellers,and the total tax revenue generated will be _____.

• A)$5;$2,500
• B)$7.50;$7,500
• C)$10;$2,500
• D)The answer cannot be determined from the information provided.

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Definitions:

Percent

A means of expressing a number as a fraction of 100.

Richest 1 Percent

The segment of the population that holds a disproportionally large share of a country's wealth, often used in discussions on inequality.

World Population

The total number of humans currently living on Earth, often estimated and analyzed for trends in growth, distribution, and demographic changes.

Earnings

Earnings represent the amount of money that an individual or company receives in return for labor, services, or investment, often measured over a specific period.