Suppose the demand curve and the supply curve in a market are both linear. If a $2 tax per unit results in a deadweight loss of $200, how large would be the deadweight loss from a $3 tax per unit?
The deadweight loss will be $450.
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According to the authors of your text,
A) society could continue to exist even if people were totally selfish. B) genuine concern for the well-being of others is essential if any social cooperation at all is to occur. C) anarchism, or a society without a coercive government, is the only socio-political system consistent with free markets. D) rules are necessary for government institutions, but not for market institutions.
Based on the data in Table 2-7, recessions in the U.S. are
a. irregular in length but evenly spaced. b. rare. c. regularly spaced and regular in length. d. irregular in length and irregularly spaced.
Choices made by economic decision makers
a. are government decisions only b. are the primary focus of economics c. are not important in economic analysis d. occur infrequently e. do not involve ordinary citizens
According to the IGM poll, what percentage of economists polled agreed that the unemployment rate at the end of 2010 was lower with ARRA than without?
a. 97% b. 75% c. 19% d. 3%