A rightward shift of the entire demand curve
A. is a decrease in demand.
B. might be due to an increase in the income of consumers who buy the product.
C. might be due to a tax reduction on the product.
D. All of these choices are true.
B. might be due to an increase in the income of consumers who buy the product.
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The marginal social cost is the cost of producing an additional unit of a good or service that falls on people other than the producer of the good or service
Indicate whether the statement is true or false
The hypothesis that regulators eventually are controlled by the regulated firms and their special interests is the
A) share-the-gains, share-the-pains hypothesis. B) capture hypothesis. C) public interest theory. D) control-group hypothesis.
An efficient tax is one that raises the desired tax revenue but creates the least possible
a. total burden. b. excess burden. c. tax incidence. d. tax shifting.
The elasticity of demand for a luxury car is: a. highly elastic
b. highly inelastic. c. equal to zero. d. infinitely elastic.