Suppose That the Market for Large,64-Ounce Soft Drinks in the Town

question 24

Multiple Choice

Suppose that the market for large,64-ounce soft drinks in the town of Pudgyville is characterized by a typical,downward-sloping,linear demand curve and a typical,upward-sloping,linear supply curve.The market is initially in equilibrium with 1,000 soft drinks sold per day.The newly-elected Mayor of Pudgyville wants to tax 64-ounce soft drinks.She is considering either a $0.10 tax or a $0.30 tax.Her chief economic advisor estimates that the number of soft drinks sold after a $0.10 tax will be 900 and after a $0.30 tax will be 500.Which tax is better?

• A)The $0.10 tax is better because it raises more revenue and creates a lower deadweight loss than the $0.30 tax.
• B)The $0.30 tax is better because it raises more revenue and creates a lower deadweight loss than the $0.10 tax.
• C)It is not clear which tax is better because although the $0.30 tax raises more tax revenues,it creates a larger deadweight loss than the $0.10 tax.
• D)It is not clear which tax is better because although the $0.10 tax raises more tax revenues,it creates a larger deadweight loss than the $0.30 tax.

Understand the basics of object-oriented programming concepts such as classes, methods (public and private), constructors, and objects.

Distinguish between class members (methods and variables), including understanding of static and instance members.

Understand the concept of method overloading and constructors in Java.

Comprehend and apply access modifiers, such as private and public, in class definitions.

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Definitions:

Linking Details

The practice of connecting or associating individual facts or pieces of information to form a coherent whole.

Negative Information

Unfavorable, adverse, or undesirable data or facts about a situation, individual, or entity.

Stereotyping

Assigning generalized attributes to individuals based solely on their membership in a particular group, ignoring personal differences.

Standpoint Theory

A perspective that argues the knowledge and perspectives of individuals are shaped by their social positions and experiences.