The Inverse Demand Function for Cases of Whiskey Defined by P

question 3

Multiple Choice

The inverse demand function for cases of whiskey defined by p = 186 - 6q, and the inverse supply function is defined by p = 90 + 2q.Originally there was no tax on whiskey.Then the government began to tax suppliers of whiskey $32 for every case they sold.How much did the price paid by consumers rise when the new equilibrium was reached?

• A)It rose by $32.
• B)It rose by $24.
• C)It rose by $22.
• D)It rose by $34.
• E)None of the above.

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Definitions:

Hindbrain

The posterior part of the brain that includes the cerebellum, pons, and medulla oblongata, responsible for regulating basic life functions like breathing and heart rate.

Thalamus

A brain structure acting as a relay station for sensory and motor signals to the cerebral cortex, excluding the sense of smell.

Relay Information

The process of transmitting information or messages from one person, device, or group to another.

Coordinate Muscle

The process of different muscles working together to perform movements smoothly and accurately.