Answer:
( 2, 7 )
2 Nonfiction , 7 Fiction
Step-by-step explanation:
Answer:
The tax creates a deadweight loss of $29.64 dollars per day.
Step-by-step explanation:
a) A bag of potato chips generates $0.19 per bag
If 156 bags are not sold each day because of the imposed tax, the deadweight loss is calculated as follows:
156 x $0.19 = $29.64 per day
b) A deadweight loss is the inefficiency cost imposed by the tax because it causes decreases the equilibrium quantity of bags of potato chips sold each day by 156. By dislocating the equilibrium and the market forces, the tax makes the economy to suffer overall. This may imply that the rate of the tax was not economically reasonable. Unless a tax is imposed to discourage an activity or a consumption, the rate should not be so high as to create inefficiencies in the allocation of economic resources.
They reached their goal because 150x24= 3,600 and that is much more than the class goal of 2,000 plus the 60 extra tickets the rest of the class sold.
24 hours in 1 day (actually 23hours 56 mins x seconds)
4 quarts in 1 gallon
The answer is 6.855654...
