e figure below represents the market for Gasoline, where initially the equilibrium price was $5.60. The picture shows the effect of a $1.50 tax on gasoline. Using the information from the figure, what is the government's tax revenue?

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Chapter5: Elasticity Of Demand And Supply
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The figure below represents the market for Gasoline, where initially the equilibrium price was $5.60. The picture shows the effect of a $1.50 tax on gasoline. Using the information from the figure, what is the government's tax revenue?

 

Question 25
1 pts
The figure below represents the market for Gasoline, where initially the equilibrium price was $5.60.
The picture shows the effect of a $1.50 tax on gasoline. Using the information from the figure, what
is the government's tax revenue?
Price
A
Supply Curve
$6.50
$5.60
E
D
$5.00
F
Demand Curve
200
250
Quantity(Gallons)
Gasoline Market
Transcribed Image Text:Question 25 1 pts The figure below represents the market for Gasoline, where initially the equilibrium price was $5.60. The picture shows the effect of a $1.50 tax on gasoline. Using the information from the figure, what is the government's tax revenue? Price A Supply Curve $6.50 $5.60 E D $5.00 F Demand Curve 200 250 Quantity(Gallons) Gasoline Market
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