If T Represents the Size of the Tax on a Good

question 5

Multiple Choice

If T represents the size of the tax on a good and Q represents the quantity of the good that is sold,total tax revenue received by government can be expressed as

• A)T/Q.
• B)T+Q.
• C)TxQ.
• D)(TxQ)/Q.

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Definitions:

Same Characteristics

Qualities, attributes, or features that are identical or very similar between entities.

Wealth Inequity

The unequal distribution of assets, wealth, and income among individuals or groups within a society, leading to economic disparity.

Prejudice

A preconceived opinion or judgment about someone or something that is not based on reason or actual experience.

Economy

The system by which goods and services are produced, distributed, and consumed in a society.