Suppose the Market Demand Function for Ice Cream Is Q^d

question 47

Multiple Choice

Suppose the market demand function for ice cream is Q^d = 10 - 2P and the market supply function for ice cream is Q^s = 4P - 2,both measured in millions of gallons of ice cream per year.Suppose the government imposes a $0.50 tax on each gallon of ice cream.The government revenue raised by the tax is:

• A) $944,444.
• B) $2.67 million.
• C) $1.83 million.
• D) $4.50 million.

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Definitions:

Sexual Dysfunctions

Disturbances in sexual desire and in the psychophysiological changes that characterize the sexual response cycle, causing distress and interpersonal difficulty.

Frotteurism

A paraphilic interest focusing on rubbing, usually one's pelvic area or erect penis, against a non-consenting person for sexual gratification.

Voyeurism

A sexual interest or practice of spying on people engaged in intimate behaviors, such as undressing, sexual activity, or other actions considered to be private.

Sexual Arousal Disorder

A sexual dysfunction characterized by a persistent inability to attain or maintain an adequate level of sexual excitement, causing personal distress.