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The figure shows the market for tires. According to the figure, the government collects per month in total tax revenue OA. $600 million OB. $1,200 million OC. $900 million OD. $2,000 million OE. None of the above answers is correct. C Price (dollars per tire) 70 60 50 40 30 20 10 S + tax 10 20 30 40 50 60 70 Quantity (millions of tires per month)

The figure shows the market for tires. According to the figure, the government collects per month in total tax revenue OA. $600 million OB. $1,200 million OC. $900 million OD. $2,000 million OE. None of the above answers is correct. C Price (dollars per tire) 70 60 50 40 30 20 10 S + tax 10 20 30 40 50 60 70 Quantity (millions of tires per month)

Principles of Microeconomics
Principles of Microeconomics
7th Edition
ISBN:9781305156050
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter12: The Design Of The Tax System
Section: Chapter Questions
Problem 7PA
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The figure shows the market for tires. According to the figure, the government collects per month in total tax revenue OA. $600 million O B. $1,200 million OC. $900 million D. $2,000 million OE. None of the above answers is correct. CICCO Price (dollars per tire) 70 60 50 40 30 20 10 0 S + tax D 10 20 30 40 50 60 70 Quantity (millions of tires per month)
Transcribed Image Text:The figure shows the market for tires. According to the figure, the government collects per month in total tax revenue OA. $600 million O B. $1,200 million OC. $900 million D. $2,000 million OE. None of the above answers is correct. CICCO Price (dollars per tire) 70 60 50 40 30 20 10 0 S + tax D 10 20 30 40 50 60 70 Quantity (millions of tires per month)
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