Completed quickly and followed instructions given. Grammar, spelling, etc. was all good as well. Thank you so much! Will hire in the future.
A country that imports a substantial amount of gasoline every year imposed a$1.2 per gallon excise tax ongasoline, to be paid by sellers. The equilibrium price of gasoline prior to the tax was$4 per gallon. Gasoline being a necessarygood, its demand curve is steep and the consumers had to bear the bulk of the tax burden. Thepost-tax price of gasoline went up to$5 pergallon, causing thecountry’s media to claim that it was unfair that people should have to pay so high a price for such an important consumption item. They further believed that such a high tax was inefficient and could not be justified.
Which of the following inferences can be drawn from thisinformation?
A.
The deadweight loss of the tax is very high.
B.
The burden on consumers would reduce if the tax was imposed onthem, rather than the sellers.
C.
The sellers of gasoline now receive 20 cents less than thepre-tax price.
D.
The sellers bear 1.2 percent of the entire tax burden.
E.
The consumers are bearing the entire burden of the tax
Show more
Delivering a high-quality product at a reasonable price is not enough anymore.
That’s why we have developed 5 beneficial guarantees that will make your experience with our service enjoyable, easy, and safe.
You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.
Read moreEach paper is composed from scratch, according to your instructions. It is then checked by our plagiarism-detection software. There is no gap where plagiarism could squeeze in.
Read moreThanks to our free revisions, there is no way for you to be unsatisfied. We will work on your paper until you are completely happy with the result.
Read moreYour email is safe, as we store it according to international data protection rules. Your bank details are secure, as we use only reliable payment systems.
Read moreBy sending us your money, you buy the service we provide. Check out our terms and conditions if you prefer business talks to be laid out in official language.
Read more