Consider the Market to Be in Equilibrium with Demand Curve

question 160

Multiple Choice

Consider the market to be in equilibrium with demand curve D and supply curve S.
-Refer to the diagram above.Suppose that a $1 per-unit tax is imposed on sellers.The total tax revenue raised is

• A) $7.
• B) $5.60.
• C) $4.80.
• D) $2.80.
• E) $1.

---

Definitions:

Specialised Tasks

Activities or duties that require a specific set of skills or expertise to be performed efficiently.

Standardising Work Procedures

The practice of developing and implementing uniform procedures for tasks to increase efficiency and consistency across an organization.

Organisational Commitment

The psychological attachment and loyalty an employee feels towards their organization, which can influence their willingness to work and perform.

Loyalty

Loyalty is the quality of being faithful to commitments or obligations, often reflected in consistent support or allegiance to a person, group, institution, or cause.