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Graph 8-1
-According to Graph 8-1, the total surplus (consumer, producer, and government) with the tax is represented by area:
Opportunity Cost
The price paid for not selecting the alternative that is second-best when a choice is made.
Car
A vehicle on wheels intended for moving people, typically driven by either an internal combustion engine or an electric motor.
Truck
A large, heavy motor vehicle used for transporting goods, materials, or large numbers of people.
Opportunity Cost
The cost of the next best alternative foregone when making a decision.
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