Refer to the figure above. The loss in consumer surplus due to the imposition of the tax is given by the areas ________
A) JBIE and BIA
B) EAG AND GHF
C) CAE AND EAHF
D) JBHF AND ABH
A
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When marginal product is rising, marginal costs will: a. rising
b. remaining unchanged. c. falling. d. rising by an equal amount.
The national debt
a. is increased by budget surpluses. b. is the value of the government's indebtedness at a moment in time. c. exceeded $20 trillion in 2014. d. All of the above are correct.
If the United States imposed higher tariffs and more restrictive quotas that reduced imports,
A) employment in the U.S. would be higher. B) the wage rates of U.S. workers would be higher. C) the U.S. would gain at the expense of other countries. D) the U.S. would not gain at the cause expense to other countries.
Suppose that when the price of hamburgers decreases, the Landry family decreases their purchases of chicken nuggets. To the Landry family
A) hamburgers and chicken nuggets are complements. B) hamburgers and chicken nuggets are inferior goods. C) hamburgers and chicken nuggets are normal goods. D) hamburgers and chicken nuggets are substitutes.