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samualson samualson
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5 years ago
Suppose the demand for wine is elastic and that initially 5 million bottles of wine are produced and consumed in the United States. If the government imposes a tax of $2 per bottle of wine, the government will collect
A) more than $10 million in tax revenues.
B) $10 million in tax revenues.
C) less than $10 million in tax revenues.
D) an amount that may be more than, equal to, or less than $10 million in tax revenues depending on the precise elasticity of demand.
Textbook 
Foundations of Finance

Foundations of Finance


Edition: 9th
Authors:
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Marc18Marc18
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5 years ago
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samualson Author
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#2
5 years ago
Oh god, I was lost before coming here. Thanksss
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#3
5 years ago
Great, make sure you mark the topic solved, it hides it from other eyes Slight Smile
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