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

question 77

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.What is the total after-tax revenue received per day by the seller after imposition of the tax?

• A)$1235
• B)$1600
• C)$1500
• D)$1520
• E)$1425

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Definitions:

Pinna

The external part of the ear that captures sound waves and directs them into the ear canal.

Visual Cortex

The region of the brain located in the occipital lobe that processes visual information received from the eyes.

Ganglion Cell Axons

Nerve fibers originating from ganglion cells in the retina, transmitting visual information from the eye to the brain.

Cerebral Area

A region of the brain responsible for various functions including thought, memory, emotion, and sensory processing.