Suppose a Tax of $3 Is Imposed on Each New

question 152

Multiple Choice

Suppose a tax of $3 is imposed on each new garden hose that is sold,resulting in a deadweight loss of $22,500.The supply curve is a typical upward-sloping straight line,and the demand curve is a typical downward-sloping straight line.Before the tax was imposed,the equilibrium quantity of garden hoses was 100,000.We can conclude that the equilibrium quantity of garden hoses after the tax is imposed is

• A)75,000.
• B)85,000.
• C)90,000.
• D)95,000.

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