Question

In: Economics

Which of the following explains the government's tax revenue? a. the size of the tax times...

Which of the following explains the government's tax revenue?

a. the size of the tax times the amount of the good supplied
b. the size of the tax times the amount of the good sold
c. the size of the tax times the amount of the good produced
d. the size of the good times the deadweight loss

Solutions

Expert Solution

Option

b. the size of the tax times the amount of the good sold

===

The tax revenue =quantity sold in the market * per unit tax

A producer or supplier does not pay tax on production or supply and it is paid on the goods sold in the market so the tax revenue is the size of the tax times the amount of the good sold

Rahul Sunny answered 2 years ago
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