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I have no clue where the answer 48 billion dollars comes from. Can you please explain how to work this question? Refer to Figure 4-7.
I have no clue where the answer 48 billion dollars comes from. Can you please explain how to work this question?
Refer to Figure 4-7. The supply curve S1 and the demand curve D indicate initial conditions in the market for gasoline. A $.60-per-gallon excise tax on gasoline is levied. How much revenue does the $.60-per-gallon tax generate for the government?
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