The figure above shows the market for the chemical hydrogen sulfide, the production of which creates an external cost. The government imposes the pollution tax shown in the figure. How much tax revenue does the government collect?
A) 640 million
B) 320 million
C) 240 million
D) more than 640 million
E) zero, because the government has taxed the firms out of business.
Question 2
A price floor is the ________.
A) maximum willingness to pay for a good
B) minimum price that a seller accepts for a good
C) lower limit on the price of a good
D) upper limit on the price of a good
Primary production increases with an increase in total phosphorus concentration.
Oil and Natural Gas Production from More Wells in Smaller Areas
Walter Thompson saw his assets evaporate during the stock market collapse in 1929. Desperate for ...
C. Wright Mills (1916-1962) was a controversial figure in sociology because of his analysis of the ...
A slave market in Marrakesh, Morocco. This lithograph is from the 1800s.
Stock Market Question