Scenario 12-1 Max and Mark Enjoy Beer. Max Places a $23 Value

question 46

Multiple Choice

Scenario 12-1
Max and Mark enjoy beer. Max places a $23 value on a bottle of beer, and Mark places a $18 value on it. The equilibrium price for a bottle of beer is $14.
-Refer to Scenario 12-1. Suppose the government levies a tax of $6 on each bottle of beer, and the equilibrium price of a bottle of beer increases to $20. What is total consumer surplus after the tax is levied?

• A)$0
• B)$3
• C)$13
• D)$20

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Definitions:

Job Analysis

The process of examining a job's requirements and the attributes needed to perform it effectively, often used to inform hiring, training, and performance evaluations.

KSAOs

Knowledge, Skills, Abilities, and Other characteristics required for a job.

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Training needs are the identified gaps in knowledge, skills, and abilities among employees that require addressing through specific training programs.

Job Analysis

A systematic process for gathering, documenting, and analyzing information about the content, requirements, and context of jobs to support hiring, training, performance evaluation, and other HR activities.