(Advanced Analysis) the Equations for the Demand and Supply Curves

question 35

Multiple Choice

(Advanced analysis) The equations for the demand and supply curves for a particular product are P = 10 − 0.4Q and P = 2 + 0.4Q, where P is price and Q is quantity expressed in units of 100.After an excise tax is imposed on the product, the supply equation is P = 3 + 0.4Q.Government's revenue from this tax is

• A)$750.
• B)$1,500.
• C)$875.
• D)$800.

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Definitions:

Heredity

The transmission of genetic traits from parents to offspring, the reason for familial resemblance.

Particulate

Made up of separate and discrete units or particles, often used in the context of matter or inheritance.

Blended

In genetics, this term traditionally referred to an outdated theory that offspring's traits are a smooth, average mix of parents' traits, replaced by the understanding of Mendelian inheritance.

Inheritance

The process through which assets, titles, debts, rights, and obligations are passed from one generation to the next upon the death of an individual.