-Using the Above Table, a Unit Tax of $2 Is

question 33

Multiple Choice

-Using the above table, a unit tax of $2 is imposed on the product. How much of the tax is paid by the consumer?

• A) $1
• B) $2
• C) $3
• D) unable to determine

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Definitions:

Probability

An estimation of how likely it is for a specific event to occur, presented as a number from 0 to 1.

Face Card

A term used in playing cards to refer to Jacks, Queens, and Kings.

Fair Die

A die that has an equal likelihood of landing on any one of its faces when thrown.

Events

In probability and statistics, an event is a set of outcomes of an experiment or situation to which a probability is assigned.