A tax would not impose a welfare cost only if:
a. the quantity exchanged did not change as a result.
b. supply was perfectly elastic
c. supply was unit elastic.
d. the demand curve was perfectly elastic.
a
Economics
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According to the table above, transportation equipment production exhibits
A) decreasing returns to scale. B) constant returns to scale. C) increasing returns to scale. D) varying returns to scale.
Economics
When price is greater than marginal cost for a firm in a competitive market,
a. marginal cost must be falling. b. the firm must be minimizing its losses. c. there are opportunities to increase profit by increasing production. d. the firm should decrease output to maximize profit.
Economics
Monetary and price instability will
What will be an ideal response?
Economics
________: goods for which consumption falls (rises) when income increases (decreases)
Fill in the blank(s) with correct word
Economics