For a Good That Is Taxed,the Area on the Relevant

question 41

Multiple Choice

For a good that is taxed,the area on the relevant supply-and-demand graph that represents government's tax revenue is a

• A)triangle.
• B)rectangle.
• C)trapezoid.
• D)None of the above is correct;government's tax revenue is the area between the supply and demand curves,above the horizontal axis,and below the effective price to buyers.

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Definitions:

Inequality

A mathematical statement that indicates one quantity is larger or smaller than another, not equal.

Solve

To find an answer or solution to a problem, equation, or puzzle.

Grocer

A person or business that sells food and other household goods.

Satisfies

When a mathematical statement or condition holds true or when an argument meets certain criteria or standards.