A Consumer Values a Car at $30,000 and a Producer

question 17

Multiple Choice

A consumer values a car at $30,000 and a producer values the same car at $20,000.If the transaction is completed at $24,000,what level of tax rate will result in unconsummated transaction?

• A)0%
• B)25%
• C)20%
• D)40%

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Definitions:

Glyphosate

A broad-spectrum systemic herbicide used to kill weeds, especially annual broadleaf weeds and grasses that compete with crops.

DNA Cloning

Set of methods that uses living cells to mass-produce targeted DNA fragments.

Medical Application

The use or implementation of medical knowledge and techniques to treat diseases or maintain health.

Transgenic

Refers to a genetically modified organism that carries a gene from a different species.