Solve the Problem. -There Are Two Types of Tickets for a School Play

question 50

Multiple Choice

Solve the problem.

-There are two types of tickets for a school play: child tickets that sell for $2 each and adult tickets that sell for $7 each. A total of 80 tickets are sold, bringing in a total of $410. How many adult
Tickets are sold?

• A) 51
• B) 48
• C) 54
• D) 50

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Definitions:

Excise Tax

A tax charged on specific goods and services, such as tobacco and gasoline, intended to reduce their consumption or raise revenue.

Deadweight Loss

A loss in social welfare that occurs when market equilibrium is not achieved due to externalities or market control.

Tax Structure Proposals

Recommendations or plans put forward to modify how taxes are imposed by the government, which can include changes in tax rates, bases, or the introduction of new taxes.

Pretax Income

The amount of income earned by an individual or corporation before taxes are deducted.