Use the following to answer questions:
Figure: Tax on Sellers of Gadgets
-(Figure: Tax on Sellers of Gadgets) According to the figure, what is the tax revenue that the government collects from the tax on gadgets?

Question

Use the following to answer questions:
Figure: Tax on Sellers of Gadgets 
-(Figure: Tax on Sellers of Gadgets) According to the figure, what is the tax revenue that the government collects from the tax on gadgets?

Quizplus · Accepted Answer

The tax revenue that the government collects from the tax on gadgets is $350. This is because the tax rate is 10%, and the total sales of gadgets is $3,500. Therefore, the tax revenue is $3,500 x 0.10 = $350.

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