Use the Following to Answer Questions

question 159

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,shifting the supply curve upward.The deadweight loss from this tax is equal to:

• A) $1.50.
• B) $5 000.
• C) $15 000.
• D) $4 375.

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Definitions:

British Convicts

Criminals from Britain who were transported to penal colonies in Australia from the late 18th to mid-19th century as part of Britain's policy of punitive transportation.

North American Workforce

The labor pool in North America, consisting of employed and unemployed individuals in the United States, Canada, and Mexico.

German Immigrants

Individuals from Germany who have moved to another country to live, often significant in the context of migration patterns and cultural exchanges.

Religious Beliefs

A rephrased definition: The convictions and practices associated with recognizing and worshiping a higher power or deity according to various faith traditions.