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Use the following to answer questions 9-11: Figure: The Market for Ya Price of yachts $220,000 200,000 180,000 3 160,000 140,000 120,000 100,000…
Use the following to answer questions 9-11: Figure: The Market for Yachts
9. A quota of ________ will bring about the same price and output in the market for yachts as would an excise tax of $60,000.
- A) 2,000
- B) 3,000
- C) 4,000
- D) The answer is impossible to determine.
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