Use the Figure Below to Answer the Following Question(s)

question 197

Multiple Choice

Use the figure below to answer the following question(s) .
Figure 4-9

Refer to Figure 4-9. The market for gasoline was initially in equilibrium at point b and a $.40 excise tax is illustrated. How much revenue would the $.40 gasoline tax raise?

• A) $18 million
• B) $36 million
• C) $72 million
• D) $100 million

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Definitions:

Representative Sample

A segment of the population that precisely represents the characteristics of the whole population.

Population of Interest

A specific group of individuals or entities that a researcher or study aims to understand or draw conclusions about.

Independent Variable

In a study, the variable that the researcher alters to determine its impact on the dependent variable.

Dependent Variable

In an experiment, the variable that is observed and measured for change, thought to be influenced by the independent variable.