Suppose George's income is $10,000 and he pays a tax of $1,000 . but Laura's income is $50,000 and she pays a tax of $4,000 . Such a tax is:
a. regressive.
b. progressive.
c. proportional.
d. flat.
a
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If the prices of the goods and services contained in the CPI market basket increase from the base period to the next year, we know that
A) the market basket used by the BLS must be changed next year to reflect consumers' new expenditures. B) the next year's CPI will be below 100. C) the next year's CPI will be above 100. D) the inflation rate is falling. E) the cost of the CPI market basket at next year's prices is lower than the cost of the CPI market basket at base period prices.
Refer to the figure above. What is the deadweight loss when the market is converted into a monopoly?
A) $0 B) $45 C) $90 D) $180
Explain what is meant by perfect price discrimination
What will be an ideal response?
What is the 4-firm concentration ratio of an industry with 25 firms each having an equal market share?
a. .16. b. .24. c. .20. d. .12.