For Good B,the Supply Curve Is the Typical Upward-Sloping Straight

question 348

Multiple Choice

For good B,the supply curve is the typical upward-sloping straight line,and the demand curve is the typical downward-sloping straight line.When good B is taxed,the area on the relevant supply-and-demand graph that represents

• A) government's tax revenue is a rectangle.
• B) the deadweight loss of the tax is a triangle.
• C) the loss of consumer surplus caused by the tax is neither a rectangle nor a triangle.
• D) All of the above are correct.

---

Definitions:

Fifth Amendment

An amendment to the U.S. Constitution that provides protection against self-incrimination, ensures due process of law, and other legal protections.

Civil Liberty

Civil liberty is the freedom of individuals to exercise traditional rights without unwarranted interference by the government, including freedom of speech, privacy, and due process.

Constitutional Right

Rights afforded to individuals as guaranteed by the Constitution, protecting citizens from governmental infringement.

Privacy

The state or condition of being free from being observed or disturbed by other people.