Refer to Figure 1.1. Government tax revenue in the market above, with a per unit tax of P1 minus P3 equals
a.) area "b+c+d+e"
b.) area "a+b+d+f"
c.) area "b+d"
d.) None of the above.
Answer: C
Refer to Figure 1.1. Government tax revenue in the market above, with a per unit tax of P1 minus P3 equals
a.) area "b+c+d+e"
b.) area "a+b+d+f"
c.) area "b+d"
d.) None of the above.
Answer: C