P Is the Price Per Unit in Dollars and Q

question 68

Multiple Choice

p is the price per unit in dollars and q is the number of units. The monthly demand function is and the supply function before taxation is . Find the tax per unit t that will maximize the tax revenue T. ​

• A)$834 per item
• B)$1069 per item
• C)$2059 per item
• D)$535 per item
• E)$2330 per item

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Definitions:

Paid

An amount of money that has been given or transferred in exchange for goods, services, or to settle a debt.

Accrued Expense

Expenses that have been incurred but not yet paid or recorded through a standard accounting transaction, often recognized at the end of an accounting period.

Electric Bill

The cost incurred for the consumption of electricity by a household, business, or organization.

Paid

The process of disbursing money in exchange for goods or services, or the act of fulfilling an obligation such as a debt.