-The Equilibrium Price Is About
A)$8

question 27

Multiple Choice

$\begin{array}{ccc}\begin{array}{c}\text { Quantity } \\\text { Demanded }\end{array} & \text { Price } & \begin{array}{c}\text { Quantity } \\\text { Supplied }\end{array} \\11 & \$ 10 & 18 \\16 & \$ 9 & 15 \\20 & \$ 8 & 10\end{array}$
-The equilibrium price is about

• A)$8.50.
• B)$9.00.
• C)$9.20.
• D)$9.60.
• E)$10.00.

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Definitions:

Taxes

Compulsory contributions to state revenue, levied by the government on workers' income and business profits or added to the cost of some goods, services, and transactions.

Government Spending

Expenditures made by the government on goods, services, and public projects to support economic activity and provide public services.

Lump-Sum Tax

A tax that is a fixed amount, not dependent on the taxpayer's income or activity level.

Advantages

Benefits or strengths that give an entity a favorable or superior position relative to competitors or alternatives.