Which of the Following Is a Correct Statement About Markets

question 330

Multiple Choice

Which of the following is a correct statement about markets for prohibited goods?

• A) Penalizing sellers of an illegal good decreases supply and penalizing buyers decreases demand.
• B) Penalizing either buyers or sellers of an illegal good decreases the quantity bought.
• C) Taxing a good at a sufficiently high rate can achieve the same consumption level as prohibition.
• D) All of the above are correct statements.

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Definitions:

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Implicit Bias

Unconscious attitudes or stereotypes that affect an individual's understanding, actions, and decisions in an unconscious manner.

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Killed

To cause the death of a living organism, often referred to in contexts ranging from biology to law and ethics.