Refer to Figure 18-2. If the government imposes an excise tax of $1.00 on every unit sold, the consumer's burden of the tax
A) is Pa - Pc under either supply curve.
B) is Pa - Pd if the supply curve is S0 and Pb - Pe if the supply curve is S1.
C) is Pa - Pc if the supply curve is S0 and Pb - Pc if the supply curve is S1.
D) is Pb - Pc under either supply curve.
C
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Using the table above, the working-age population is
A) 155 million. B) 170 million. C) 195 million. D) 250 million. E) 220 million.
An example of a public policy response to a monopoly is:
A. antitrust laws. B. public ownership. C. doing nothing. D. All of these are examples.
Private investment from a foreign country is known as
A. development assistance. B. foreign direct investment. C. technical progress. D. the cost disease of personal services.
Which of the following is NOT a non-price determinant of demand?
A. the price of the good or service B. prices of related goods and services C. expectations of future prices D. tastes and preferences