Figure 8-7 the Vertical Distance Between Points a and B Represents a Represents

question 118

Multiple Choice

Figure 8-7
The vertical distance between points A and B represents a tax in the market.
-Refer to Figure 8-7.As a result of the tax,

• A)consumer surplus decreases from $200 to $80.
• B)producer surplus decreases from $200 to $145.
• C)the market experiences a deadweight loss of $80.
• D)All of the above are correct.

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Definitions:

Marketing Ethics

The principles and standards guiding the conduct of marketing practices to ensure fairness, honesty, and respect for consumers.

Unethical Business Practices

Actions by businesses that are deemed morally wrong, whether legally permissible or not, often leading to harm or disadvantage to customers, employees, or society as a whole.

Socially Responsible

Acting with consideration for the impact one's actions have on society, the environment, and the welfare of others.

Pay Practices

The methods and policies businesses use to compensate their employees, including wages, salaries, bonuses, and benefits.