Figure 6-28 -Refer to Figure 6-28.Suppose a Tax of $4 Per Unit

question 32

Multiple Choice

Figure 6-28
-Refer to Figure 6-28.Suppose a tax of $4 per unit is imposed on this market.How much will buyers pay per unit after the tax is imposed?

• A)$4
• B)between $4 and $7
• C)between $7 and $10
• D)$10

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Definitions:

Opportunity Cost

The cost of forgoing the next best alternative when making a decision, representing the benefits one could have received by choosing differently.

Pizza

A popular dish of Italian origin, consisting of a flat, round base of dough baked with a topping of tomato sauce and cheese, often with added meat, fish, or vegetables.

Beer

An alcoholic beverage made from barley, hops, water, and yeast through a fermentation process.

Pints

A measure of volume often used for liquids, approximately equal to half a liter or 16 US fluid ounces.