Use the Following to Answer Questions

question 200

Multiple Choice

Use the following to answer questions :
Figure: The Gasoline Market
-(Figure: The Gasoline Market) Use Figure: The Gasoline Market.The pre-tax equilibrium price is $3,and the equilibrium quantity before tax is 20 000 litres.An excise tax has been levied on each litre of gasoline supplied by producers.Based on the graph,the incidence of the tax on suppliers is:

• A) $1.50.
• B) $1.
• C) $0.75.
• D) $15 000.

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Definitions:

Ethical Misconduct

Behavior by an individual or organization that violates accepted moral standards or principles.

Philanthropic

Relating to the desire to promote the welfare of others, usually expressed especially by the generous donation of money to good causes.

Event Outcome Forecasts

Predictions about the results or consequences of events in the future.