Use the Following to Answer Question

question 63

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 250 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:

Last Month

A reference to the calendar month immediately preceding the current one.

Times A Day

A frequency measure indicating the number of times an event occurs within a single day.

Inferential Statistics

A branch of statistics that uses a random sample of data taken from a population to describe and make inferences about that population.

Descriptive Statistics

Statistical methods that summarize and describe the features of a data set, including measures of central tendency and variability.