Use the Following to Answer Questions

question 161

Multiple Choice

Use the following to answer questions:
Scenario: The Market for Good X:
The market for good X can be depicted with the following demand and supply equations:
Demand: P = 50 - 0.5Q
Supply: P = 0.33Q
where P is price per unit and Q represents quantity in units. Policy makers plan on imposing a $1 per unit tax on this good.
-(Scenario: The Market for Good X) Look at the scenario The Market for Good X. The tax revenue collected by government from a $1 per unit tax will be:

• A) $1.00.
• B) $58.80.
• C) $60.00.
• D) $60.50.

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Definitions:

Social Work

A professional discipline that seeks to improve the well-being of individuals, families, and communities through direct practice, policy development, and social advocacy.

National Association of Social Workers

A professional organization supporting the practice and ethics of social workers, providing resources, advocacy, and standards for practice.

Association for the Advancement of Social Work With Groups

An organization dedicated to promoting excellence in group social work practice, education, field instruction, research, and publication.

International Society of Group Psychotherapy

The International Society of Group Psychotherapy is an organization dedicated to the advancement, research, and practice of group psychotherapy.