Use the Following Information to Answer the Next Fifteen Questions

question 48

Multiple Choice

Use the following information to answer the next fifteen questions.
The following graph depicts a market where a tax has been imposed. Pₑ was the equilibrium price before the tax was imposed, and Qₑ was the equilibrium quantity. After the tax, PC is the price that consumers pay, and PS is the price that producers receive. QT units are sold after the tax is imposed. NOTE: The areas B and C are rectangles that are divided by the supply curve ST. Include both sections of those rectangles when choosing your answers.

-Which areas represent consumer surplus after the tax is imposed?

• A) A
• B) A + B
• C) A + B + F
• D) F + G
• E) B + C + F

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Definitions:

Ethical

Pertaining to or dealing with morals or the principles of morality; adhering to the standards of what is right or just in behavior.

Unethical

Not conforming to approved standards of social or professional behavior; acting against moral principles.

Subjective Probabilities

Are personal judgments or beliefs about the likelihood of certain outcomes, often based on individual experience or intuition rather than objective data.

Mathematically

Pertaining to the use, study, or application of mathematics.