Refer to the figure above. If a per-unit tax of $3 is imposed on the sale of Good X, what is the tax revenue received by the government?

A) $20 million
B) $10 million
C) $12 million
D) $60 million

D

Economics

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Which of the following did not occur during the Industrial Revolution?

a. worker productivity increased b. factories became larger c. direct supervision of labor decreased d. division of labor increased e. fewer stages of production were organized in the household

Economics

An individual seller's producer surplus on a unit of a good is

a. zero in perfect competition b. zero in monopoly c. greater than the buyer's consumer surplus on that unit d. an example of a side payment e. the difference between the price the seller receives and the cost of producing that unit.

Economics