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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,shifting the supply curve upward.The deadweight loss from this tax is equal to:
SBA
Refers to the Small Business Administration, a U.S. government agency that provides support to entrepreneurs and small businesses.
Venture Capital Firms
Investment companies that provide funding to start-up companies and small businesses with perceived long-term growth potential.
High-tech Industries
Sectors that are heavily involved in the development and production of technology, including computing, telecommunications, and biotechnology.
Double-Entry Accounting
An accounting system in which every business transaction is recorded in an asset account and a liability or owner’s equity account so that the system will balance.
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