Refer to the Graph Shown

question 140

Multiple Choice

Refer to the graph shown. Assume that the market is initially in equilibrium at a price of $10 and a quantity of 500 units. If the government imposes a $4 per-unit tax on this product, it will collect tax revenue in the amount of:

• A)$0.
• B)$1,200.
• C)$1,600.
• D)$2,000.

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Definitions:

Locke

John Locke was a 17th-century English philosopher who laid much of the groundwork for the Enlightenment and contributed fundamentally to theories of governance, knowledge, and the self.

Art Criticism

The analysis and evaluation of art works, discussing their meanings, merits, and contexts, often according to aesthetic principles.

Naturalism

An artistic and literary movement aiming to recreate a realistic depiction of reality, focusing on everyday life and nature with meticulous attention to detail.

Jean-Baptiste-Siméon Chardin

A renowned 18th-century French painter known for his still-life artworks and domestic scenes, emphasizing realism and texture.