The Quantity Q of Apricots Demanded at Price P Is

question 28

Multiple Choice

The quantity q of apricots demanded at price p is given by q = 36 - 4p and the supply schedule by q = 2p.The government imposes a quantity tax at some rate t, which it collects from buyers.What is the smallest tax rate that will result in no apricots being bought or sold?

• A)6.67%
• B)9%
• C)6%
• D)10.50%
• E)12%

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Definitions:

Net Income

Signifies the net income of a corporation following the subtraction of all costs and tax obligations from the overall revenue.

Inventory Turnover

A measure showing the frequency at which a company's inventory is sold and replenished within a given timeframe.

Days in Inventory

A financial metric that calculates the average number of days a company holds inventory before it is sold.

Consigned Goods

Items that are given to a third party to sell but remain the property of the seller until sold.