Refer to the Graph Shown

question 30

Multiple Choice

Refer to the graph shown. Initially, the market is in equilibrium with price equal to $3 and quantity equal to 100. Government imposes a tax on suppliers of $1 per unit. The effect of the tax is to:

• A) give government tax revenues of $100.
• B) give government tax revenues of $400.
• C) reduce producer surplus by $100.
• D) reduce producer surplus by $400.

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Definitions:

Number

A basic data type used in programming and mathematics, representing integers, floating point values, or other numeric forms.

Total Row

A row in a datasheet or table that calculates and displays the sum, average, or other aggregates of numerical data in a column.

Statistics Row

A row in a data grid or table that provides aggregate information, such as sums or averages, about numeric data in the columns.

Grouping Field

A field in databases and reports that is used to categorize records into groups, making it easier to analyze and understand data patterns.