7
answers
1
watching
229
views
6 Oct 2020
Peanut butter has an upward-sloping supply curve and a downward-sloping demand curve. If a 10 cent per pound tax is increased to 15 cents, the government's tax revenue...
a. increases by less than 50 percent and may even decline.
b. increases by exactly 50 percent.
c. increases by more than 50 percent.
d. The answer depends on whether supply or demand is more elastic.
Peanut butter has an upward-sloping supply curve and a downward-sloping demand curve. If a 10 cent per pound tax is increased to 15 cents, the government's tax revenue...
a. increases by less than 50 percent and may even decline.
b. increases by exactly 50 percent.
c. increases by more than 50 percent.
d. The answer depends on whether supply or demand is more elastic.
Liked by winnie920407
Samantha BalandoLv7
30 Oct 2020
1 Nov 2022
Already have an account? Log in
christopherc63Lv10
1 Nov 2022
Already have an account? Log in
papayaprofessorLv10
18 Sep 2022
Already have an account? Log in