In december 2012, eric hires a band to play at a huge graduation party he is planning to hold in may, 2014. the deal is never put into writing. in january 2014, if he wanted to cancel the job, eric be able to do so. if he does not cancel, and if the band shows up and plays at the party in may 2014, eric have to pay them.

In the market for widgets, the supply curve is the typical upward-sloping straight line, and the demand curve is the typical downward-sloping straight line. the equilibrium quantity in the market for widgets is 250 per month when there is no tax. then a tax of $6 per widget is imposed. as a result, the government is able to raise $750 per month in tax revenue. we can conclude that the after-tax quantity of widgets has fallen by a. 25 per month. b. 50 per month. c. 75 per month. d. 100 per month.