A payment to the government on the production or sale of a good:
a. subsidy
b. supply schedule
c. law of supply
d. elasticity of supply
e. excise tax
Answer: e. excise tax
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Explain how mandatory seat belt laws may reduce the negative externalities of risky behavior
What will be an ideal response?
Mortgage-backed securities are groups of mortgages that are bundled together and sold to investors
Indicate whether the statement is true or false
The minimum efficient scale for a firm is the
a. lowest rate of output at which long-run average cost is at a minimum b. lowest rate of output at which short-run average total cost is at a minimum c. lowest rate of output at which short-run average variable cost is at a minimum d. average of the rates of output at which long-run average cost is at a minimum e. average of the rates of output at which short-run average total cost is at a minimum
Suppose Max values a concert ticket at $45 . Charles values the same concert ticket at $40 . The pre-tax price of a concert ticket is $30 . The government imposes a tax of $5 on each concert ticket, and the price rises to $35 . The deadweight loss from the tax is
a. $15. b. $10. c. $5. d. $0.