(Figure: Determining Tax Burdens) Based on the Graph, the Original

question 406

Multiple Choice

(Figure: Determining Tax Burdens) Based on the graph, the original market price is $4. The graph depicts a tax of _____ with a corresponding deadweight loss of _____.

• A) $6; $3
• B) $3; $150
• C) $6; 50 units
• D) $3; $75

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Definitions:

Total SS

The total sum of squares, a measure used in statistical analysis to represent the total variation in a dataset.

Variation

A measure of how much values in a dataset differ from the mean of the population or from each other.

F-Statistics

A ratio used in ANOVA tests to determine if there are significant differences between group means.

Independent Samples

Sets of data collected from two groups where the subjects in one group have no relation to the subjects in the other.