Table 67 -Refer to Table 6

question 181

Multiple Choice

Table 6.7
$$\begin{array} { | c | c | } \hline \text { Frice per Fiece } ( \$ ) & \text { Quantity } \\\hline 8 & 0 \\\hline 7 & 1 \\\hline 6 & 2 \\\hline 5 & 3 \\\hline 4 & 4 \\\hline 3 & 5 \\\hline 2 & 6 \\\hline 1 & 7 \\\hline\end{array}$$
-Refer to Table 6.7,which shows Ethan's demand for sushi at various prices.The first piece of sushi is valued at $_____

• A)7.
• B)1.
• C)22.
• D)16.
• E)4.

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Definitions:

Incidence

The analysis of the distributional effect of a tax or policy on different groups, focusing on who bears the cost.

Tax Imposed

A financial charge levied by a government on individuals, corporations, or goods to fund public expenditures.

Elasticity of Supply

A measure of how much the quantity supplied of a good changes in response to a change in price.

Price Ceiling

A legal maximum price that can be charged for a good or service, intended to protect consumers from excessive prices.