The table above describes the market for paper. The production of paper produces pollution. There are no external benefits. Now suppose a Pigovian tax is successfully implemented and the efficient quantity of paper is produced
What is the total tax revenue collected by the government per week? A) $120
B) $840
C) $1,200
D) $1,800
D
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Stefano has just completed an original oil painting. After considering the costs for brushes, paint, canvas, and the value of Stefano's labor time, the marginal cost of the painting is $1,000. Lucky Stefano. One art lover paid him $1,500
How much producer surplus did Stefano obtain? A) The amount of producer surplus cannot be determined from the information given. B) $1,500 C) $1,000 D) $500
Refer to the below table. Assume that health insurance pays two-thirds the cost of health care. For the consumer, the price and quantity of health care consumed would then be:
Use the table below to answer the question. The table shows the hypothetical demand and supply schedule for health care
A. $300 and 400 units
B. $300 and 600 units
C. $200 and 700 units
D. $200 and 300 units