Thursday

July 24, 2014

July 24, 2014

Posted by **sarah** on Wednesday, February 13, 2013 at 11:14pm.

a. 0.50

b. 1.86

c. 0.54

d. 2.00

2. Suppose that the equilibrium quantity in the market for widgets has been 200 per month. Then a tax of $5 per widget is imposed. As a result, the government is able to raise $750 per month in revenue. By how much has the equilibrium quantity of widgets fallen?

a. 25 per month

b. 50 per month

c. 75 per month

d. 100 per month

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