« previous next »

Author Question: The figure above shows the market for the chemical hydrogen sulfide, the production of which creates ... (Read 54 times)

maychende

  • Hero Member
  • *****
  • Posts: 556
on: Jun 29, 2018
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
Foundations of Microeconomics ¦ Bade, Parkin ¦ 8th Edition
Buy Test-Bank


bpool94

  • Sr. Member
  • ****
  • Posts: 354
Reply #1 on: Jun 29, 2018
Answer to Question 1

C

Answer to Question 2

C


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

Earwax has antimicrobial properties that reduce the viability of bacteria and fungus in the human ear.

Did you know?

Stevens-Johnson syndrome and Toxic Epidermal Necrolysis syndrome are life-threatening reactions that can result in death. Complications include permanent blindness, dry-eye syndrome, lung damage, photophobia, asthma, chronic obstructive pulmonary disease, permanent loss of nail beds, scarring of mucous membranes, arthritis, and chronic fatigue syndrome. Many patients' pores scar shut, causing them to retain heat.

Did you know?

In the United States, an estimated 50 million unnecessary antibiotics are prescribed for viral respiratory infections.

Did you know?

Many supplement containers do not even contain what their labels say. There are many documented reports of products containing much less, or more, that what is listed on their labels. They may also contain undisclosed prescription drugs and even contaminants.

Did you know?

It is difficult to obtain enough calcium without consuming milk or other dairy foods.

Energy Level Diagram of Hydrogen Energy Level Diagram of Hydrogen
A slave market in Marrakesh, Morocco. This lithograph is from the 1800s. A slave market in Marrakesh, Morocco. This lithograph is from the 1800s.
Increased neurogenesis in the dentate gyrus following damage. The left panel shows (1) an ... Increased neurogenesis in the dentate gyrus following damage. The left panel shows (1) an ...
World Crude Oil Production, 1900–2010 World Crude Oil Production, 1900–2010
ATP Production in Cardiac Muscle ATP Production in Cardiac Muscle
How much voltage does the resistor drop in Figure 10-2? How much voltage does the resistor drop in Figure 10-2?
Video: Optic Nerve and Optic Disk Animation (Part 1 of 2)

For a complete list of videos, visit our video library