Assume That for Good X the Supply Curve for a Good

question 54

Multiple Choice

Assume that for good X the supply curve for a good is a typical,upward-sloping straight line,and the demand curve is a typical downward-sloping straight line.If the good is taxed,and the tax is doubled,the

• A)base of the triangle that represents the deadweight loss doubles.
• B)height of the triangle that represents the deadweight loss doubles.
• C)deadweight loss of the tax quadruples.
• D)All of the above are correct.

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Definitions:

Vulnerable Group

Populations or communities at higher risk of facing economic, social, health, or environmental challenges due to various factors including age, disability, or socio-economic status.

Older Women

Refers to women who are advanced in age, often considered to be past middle age.

Custodial Grandparents

Grandparents who are the primary caregivers of their grandchildren, assuming most or all of the responsibilities of raising them.

Responsibility

The responsibility or obligation to manage something or to oversee someone.