Consider an Excise Tax Imposed on Daily Parking Charges in the Downtown

question 100

Multiple Choice

Consider an excise tax imposed on daily parking charges in the downtown of a small city.Before the imposition of the tax,equilibrium price and quantity are $15 and 100 cars parked.(P = $15,Q = 100) .The city government imposes a tax of $3 per car parked per day.Market equilibrium adjusts to P = $16 and Q = 95.After imposition of the tax,what is the daily after-tax price received by the seller per car parked?

• A)$1
• B)$3
• C)$13
• D)$15
• E)$16

Understand and apply the knowledge of inventory adjustment and closing entries in accounting.

Comprehend and execute journal entries for transactions using a perpetual inventory system.

Analyze and compute missing amounts in financial records and statements.

Prepare and interpret multi-step income statements and compute gross profit rates.

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Definitions:

External Stressor

An outside factor or event that causes stress to an individual, varying widely from environmental conditions to life events.

Relationship Issues

Relationship Issues are problems or difficulties that arise in the interactions or connections between individuals.

Chronic Worry

Persistent and excessive anxiety about future events or potential outcomes, often leading to stress and affecting daily functioning.

Fight-or-Flight

The physiological response to perceived harmful events, attacks, or threats to survival.