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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Definitions:

Stamp Act Congress

A meeting in 1765 of delegates from several American colonies that protested against the British Stamp Act, marking a step toward unity against British rule.

Authority

The power or right to give orders, make decisions, and enforce obedience.

Colonial Resisters

Individuals or groups in colonies who opposed the control or policies of their colonial rulers, often through acts of civil disobedience, protests, or armed conflict, contributing to movements for independence or reform.

Unity

The state or quality of being united or joined as a whole, often used to describe a sense of togetherness among individuals or groups with a common purpose.