A bridge that typically is traversed by 1,000 cars per day plans to implement a toll of $0.50 per car for passage, starting next week. The tax revenues generated in one day after the toll is implemented will be:
A) $1,000.
B) $500.
C) less than $500.
D) between $500 and $1,000.
Correct Answer:
Verified
Q48: For any given tax, the revenue generated
Q49: A new toll of $0.50 per car
Q50: To calculate tax revenue, we:
A)divide total revenue
Q51: Imposing taxes in markets where demand and
Q52: In general, the more complex the tax,
Q54: Lump-sum taxes reduce the total amount of
Q55: If the government's primary goal is to
Q56: The administrative burden of a tax is:
A)the
Q57: In the real world, lump-sum taxes are:
A)rarely
Q58: In the real world, lump-sum taxes are:
A)often
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