If this pollution occurs, one way of reaching efficient production levels is by setting a Pigovian Tax. To achieve efficiency with this tax means that the tax must equal the
A) marginal social cost.
B) marginal private cost.
C) marginal private benefit.
D) marginal external cost.
D
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Provide a utilitarian justification for using the tax system to provide a more equal distribution of income as well as two possible counterarguments to this viewpoint
What will be an ideal response?
A firm's economic profit is the difference between its total revenue and total costs, including the opportunity costs of the resources used in the business
a. True b. False Indicate whether the statement is true or false
The various quantities of output that all market participants are willing and able to buy at alternative price levels in a given time period is:
A. Market demand. B. Aggregate demand. C. Market supply. D. Aggregate supply.
One of the major complaints about state lotteries is that they are played primarily by the poor. Hence, because lotteries do not pay out in prizes as much as they take in as revenue, this way of raising state revenue is:
A. progressive. B. retroactive. C. regressive. D. reactionary.