Use the Following to Answer Questions

question 50

Multiple Choice

Use the following to answer questions:
Figure: The Market for Yachts
-(Figure: The Market for Yachts) Look at the figure The Market for Yachts. If the government imposes a $30,000 tax on yachts (collected from the producers) , the price of yachts will rise to _____ and the government will collect _____.

• A) $100,000; $120 million
• B) $120,000; $90 million
• C) $140,000; $90 million
• D) $160,000; $120 million

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Definitions:

Marketing Mix Element

Components that can be controlled to influence how a product is positioned and sold in the market, often identified as product, price, place, and promotion.

Sole Proprietorship

A business owned by one person who has full exposure to its liabilities.

Google Ad

An online advertising platform developed by Google, where advertisers pay to display brief advertisements, service offerings, product listings, or videos to web users.

S.A.V.E. Framework

An approach emphasizing Solution, Access, Value, and Education for marketing in contrast to traditional methods.