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Exhibit 19-6

question 24

Multiple Choice

Exhibit 19-6

Exhibit 19-6 -Refer to Exhibit 19-6. Suppose the three equilibrium quantities are 700, 800, and 900, and the two other equilibrium prices are $2.20 and $2.75. What is the change in total revenue when a per-unit tax shifts S1 to S2, given that D2 is the relevant demand curve? A) $260 B) -$260 C) $900 D) $700 E) -$200
-Refer to Exhibit 19-6. Suppose the three equilibrium quantities are 700, 800, and 900, and the two other equilibrium prices are $2.20 and $2.75. What is the change in total revenue when a per-unit tax shifts S₁ to S₂, given that D₂ is the relevant demand curve?

Definitions:

Per Capita GDP Growth

measures the rate of growth in the average economic output per person, indicating the economic progress of a country on an individual level.

Major Industrial Country

A country that is highly developed and has a significant influence on the global economy due to its industrial capabilities.

West Germany

The name for the Federal Republic of Germany during the period between its formation in 1949 and German reunification in 1990.

Italy

A country in Southern Europe, known for its rich history, art, culture, and influential role in the world economy and politics.

Exhibit 19-6 ​

Definitions:

Exhibit 19-6