Use the Table Below to Answer the Following Questions

question 118

Multiple Choice

Use the table below to answer the following questions.
Table 6.3.1
-Refer to Table 6.3.1.Suppose a sales tax of $2 a unit is imposed on the good described in the table.Government revenue from the tax is

• A)$1,200.
• B)$1,000.
• C)$800.
• D)$600.
• E)zero.

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Definitions:

Free-ride

The act of benefiting from resources, goods, or services without paying for the cost of the benefit.

Rival

In economics, a good or service is considered rival if its consumption by one individual prevents simultaneous consumption by other individuals.

Excludable

Refers to a property of a good or service where it's possible to prevent people who have not paid for it from having access to it.

Efficient Quantity

The amount of a good or service that maximizes the net benefit to society.