Answer:
Total revenue would fall
Explanation:
The decrease in the supply as a result of the unit tax would lead to an increase in the price of yacht.
Since the demand for yacht is elastic, the demand for yacht is sensitive to price. As a result of the rise in price, the quantity demanded of yachts would fall. As a result, total revenue would fall
Elastic demand means that quantity demanded is sensitive to price changes. A small change in price would lead to a greater change in quantity demanded.
