The Supply Curve for Cameras Is the Typical Upward-Sloping Straight

question 363

Multiple Choice

The supply curve for cameras is the typical upward-sloping straight line,and the demand curve for cameras is the typical downward-sloping straight line.When cameras are taxed,the area on the relevant supply-and-demand graph that represents

• A) government's tax revenue is a rectangle.
• B) the deadweight loss of the tax is a triangle.
• C) the loss of consumer surplus caused by the tax is neither a rectangle nor a triangle.
• D) All of the above are correct.

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