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Refer to the figure above. Had the demand for pumpkins been perfectly inelastic at point A, the amount the store owners would have received per pumpkin after the imposition and payment of this tax would have been Group of answer choices a) $3 b) $5.50 c) $7.25 d) $8.50

Refer to the figure above. Had the demand for pumpkins been perfectly inelastic at point A, the amount the store owners would have received per pumpkin after the imposition and payment of this tax would have been Group of answer choices a) $3 b) $5.50 c) $7.25 d) $8.50

Principles of Economics 2e
Principles of Economics 2e
2nd Edition
ISBN:9781947172364
Author:Steven A. Greenlaw; David Shapiro
Publisher:Steven A. Greenlaw; David Shapiro
ChapterA: The Use Of Mathematics In Principles Of Economics
Section: Chapter Questions
Problem 3RQ: Exercise A3 What dome slices of a pie chart represent?
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Refer to the figure above. Had the demand for pumpkins been perfectly inelastic at point A, the amount the store owners would have received per pumpkin after the imposition and payment of this tax would have been

Group of answer choices

a) $3

b) $5.50

c) $7.25

d) $8.50

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Price ($) 8.50 7.25 5.50 0 B 700 1,200 Supply 2 Supply 1 Demand Quantity of pumpkins
Transcribed Image Text:Price ($) 8.50 7.25 5.50 0 B 700 1,200 Supply 2 Supply 1 Demand Quantity of pumpkins
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