Register
Assume the state of Alaska placed a tax on playing cards of 5 cents per pack. If the state generated $55500 in revenue, how many packs of cards were sold?
45,319 views
39 votes
39 votes
Assume the state of Alaska placed a tax on playing cards of 5 cents per pack. If the state generated $55500 in revenue, how many packs of cards were sold?

User Trevor Powell
by
2.7k points

1 Answer

11 votes
11 votes

Answer:

The right solution is "1,110,000 units".

Step-by-step explanation:

Given:

Tax revenue,

= $55500

Tax per good,

= 5 cents

As we know,

⇒
Tax \ revenue=Tax \ per \ good* goods

By substituting the values, we get


55500=0.05* Q


Q=(55500)/(0.05)


=1,110,000 \ units

User Geinmachi
by
2.7k points
Ask a Question
Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.

1.6m questions

2.0m answers

Other Questions

If the rate of inflation in Japan dramatically increases while the rate of inflation in the United States remains constant, then a. the demand curve for dollars shifts to the left. b. the demand curve
If you buy a one-year bond for $4,000 and the issuer pays you back $5,000 at the end of one year, the interest rate on the bond is
Kylie is risk averse and has $1,000 with which to make a financial investment. She has three options. Option A is a risk-free government bond that pays 5 percent interest each year for two years. Option
From the standpoint of the issuing company, a disadvantage of using bonds as a means of long-term financing is that Group of answer choices bond interest is deductible for tax purposes. interest must be
Elroy Rocket is entering his senior year as an accounting major and has a number of options for his summer break. His options for the 3 month break follow: (1) Work full time at a local accounting firm
Link Copied!