Refer to the Following Table

question 14

Multiple Choice

Refer to the following table.Assume that Keisha keeps quiet.Larry will spend ________ years in jail if he confesses,and ________ years in jail if he also keeps quiet.

• A) 12; 1.5
• B) 1.5; 12
• C) 0; 12
• D) 12; 12
• E) 0; 1.5

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Definitions:

Per-unit Burden

It refers to the cost that each unit of a product or service incurs, often considered in analyses of taxes or production costs.

Tax

A mandatory financial charge or some other type of levy imposed upon a taxpayer by a governmental organization in order to fund government spending and various public expenditures.

Price Ceiling

A government-imposed limit on how high a price can be charged for a product, good, or service.

Supply Curve

A graphical representation showing the relationship between the price of a good and the quantity of the good that suppliers are willing to sell.