Figure 8-6 the Vertical Distance Between Points a and B Represents a Represents

question 138

Multiple Choice

Figure 8-6
The vertical distance between points A and B represents a tax in the market.
-Refer to Figure 8-6.When the tax is imposed in this market,consumer surplus is

• A)$600.
• B)$900.
• C)$1,500.
• D)$3,000.

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Definitions:

Journal Entry

A record in financial accounting that documents a business transaction in the accounting records.

Face Value

The nominal or dollar value printed on a security, such as a bond or stock, representing its official worth.

Quoted Price

The ongoing price tag attached to buying or selling a service or asset.

Selling Price

The amount of money a customer pays to purchase a product or service.