In the Market for Widgets,the Supply Curve Is the Typical

question 43

Multiple Choice

In the market for widgets,the supply curve is the typical upward-sloping straight line,and the demand curve is the typical downward-sloping straight line.The equilibrium quantity in the market for widgets is 200 per month when there is no tax.Then a tax of $5 per widget is imposed.As a result,the government is able to raise $750 per month in tax revenue.We can conclude that the post tax quantity of widgets is

• A) 50 per month.
• B) 75 per month.
• C) 100 per month.
• D) 150 per month.

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Definitions:

External Context

The surrounding conditions or circumstances external to a specific focus or object of study.

Environment

The surroundings or conditions in which a person, animal, or plant lives or operates, encompassing both natural and built environments.

Structural Functionalism

A viewpoint in sociology that views society as an intricate system in which its components cooperate to foster unity and steadiness.

Conflict Theory

A theory that views social life as a competition, focusing on the conflicts between groups over resources or power.