Use the Following to Answer Questions

question 14

Multiple Choice

Use the following to answer questions:
Figure: Tax on Sellers
-(Figure: Tax on Sellers) If a $3 tax per unit purchased was placed on buyers instead of sellers, buyers would pay ________ and sellers would receive ________.

• A) $3; $6
• B) $6; $3
• C) $4; $6
• D) $4; $3

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Definitions:

Personal Property

Any item that is movable and not fixed to real estate, including tangible items like cars, furniture, and electronic devices, as well as intangible items like stocks and bonds.

Real Property

Land and anything permanently attached to it, such as buildings, also known as real estate.

E Ink

A type of electronic paper display technology characterized by low power consumption and high readability in direct sunlight.

Intellectual Property

A legal concept which refers to creations of the mind for which exclusive rights are recognized, such as inventions, literary and artistic works, designs, and symbols, names, and images used in commerce.