In general, risk-loving individuals experience increasing marginal utility from income.
Answer the following statement true (T) or false (F)
True
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The tax incidence on buyers is higher if ________
A) the buyers and sellers of a good are equally sensitive to price changes B) the elasticity of the market demand curve is higher than the elasticity of the market supply curve C) the elasticity of the market supply curve is higher than the elasticity of the market demand curve D) the number of sellers in a market is larger than the number of buyers
From society's perspective, the deadweight loss associated with a positive externality occurs because: a. producers bear the true cost of producing the good involved in the transaction
b. producers do not bear the true cost of producing the good involved in the transaction. c. consumers do not internalize the externality. d. consumers internalize the externality.
The short-run supply curve in a competitive market must be more elastic than the long-run supply curve
a. True b. False Indicate whether the statement is true or false
Which of the following is true when the federal government is running a budget deficit?
What will be an ideal response?