Figure and Table: The Market for Taxi Rides
(Figure and Table: The Market for Taxi Rides) Look at the figure and table The Market for Taxi Rides.If the government imposes an excise tax of $1 per ride (causing the supply curve to shift upward by that amount), then the government will collect tax revenues of _.However, there will be a deadweight loss to society of caused by this tax.
A.$9 million; $0.5 million
B.$16 million; $1 million
C.$45 million; $1 million
D.$50 million; $0.5 million
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