Assume that for good X the supply curve for a good is a typical, upward-sloping straight line, and the demand curve is a typical downward-sloping straight line. If the good is taxed, and the tax is doubled, the
a. base of the triangle that represents the deadweight loss doubles.
b. height of the triangle that represents the deadweight loss doubles.
c. deadweight loss of the tax quadruples.
d. All of the above are correct.
d
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What will be an ideal response?
Why is prediction in social sciences like economics more difficult than in physical sciences?
Referring to the Production Possibilities Frontiers in Figure 1.11 A and B, which depicts generalized growth when there is increasing opportunity cost? 
Figure 1.11
A. Fig. A B. Fig. B C. Either A or B is correct D. Neither A nor B are correct
Opportunity cost is the expected value of the alternative not chosen.
a. true b. false