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

question 374

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 equilibrium quantity of widgets has fallen by

• A) 25 per month.
• B) 50 per month.
• C) 75 per month.
• D) 100 per month.

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Truly Random Numbers

Numbers generated in a way that is impossible to predict, providing an equal chance for every outcome.

Statistics

The science of collecting, analyzing, interpreting, presenting, and organizing data.

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Strategies or legal defenses used in legal proceedings by the accused to defend against charges.

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