Post Utme Futo 2024 Economics Question 8

Practice objective / multiple choice question 8 from the 2024 Post Utme Futo Economics examination.

Post Utme Futo 2024 Economics Objective / Multiple Choice
Question 8 POST_UTME_FUTO • 2024 • ECONOMICS • objective

The government of Nigeria has introduced a new tax on luxury goods. The tax is ₦500 per unit of the good. If the price of the good is ₦1000 per unit, what is the total tax revenue collected by the government?

Answer Options

A. ₦250,000
Correct Answer B. ₦500,000
C. ₦750,000
D. ₦1,000,000
Correct Answer
B
Correct Option:
₦500,000

About This Question

This is Post Utme Futo 2024 Economics Question 8. It is one of the objective questions from the 2024 Post Utme Futo Economics examination.

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