Consider an Excise Tax Imposed on Daily Parking Charges in the Downtown

question 24

Multiple Choice

Consider an excise tax imposed on daily parking charges in the downtown of a small city.Before the imposition of the tax,equilibrium price and quantity are $15 and 100 cars parked.(P = $15,Q = 100) .The city government imposes a tax of $3 per car parked per day.Market equilbirium adjusts to P = $16 and Q = 95.After imposition of the tax,what is the daily after- tax price received by the seller per car parked?

• A)$15
• B)$1
• C)$16
• D)$3
• E)$13

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Havelock's Change Model

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