Which of the following sequences would cause E1 to shift to E2?
a. P1 decreases to P2; D1 decreases to D2; Q1 decreases to Q2
b. P1 decreases to P2; Q1 decreases to Q2; D1 decreases to D2
c. D1 decreases to D2; P1 decreases to P2; Q1 decreases to Q2
d. Q1 decreases to Q2; D1 decreases to D2; P1 decreases to P2
c. D1 decreases to D2; P1 decreases to P2; Q1 decreases to Q2
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The sum of all the net benefits received by the parties to a transaction is called
A) consumer surplus. B) producer surplus. C) cooperative surplus. D) deadweight loss.
In the case of unemployment compensation why would the benefits received principle of taxation not be entirely practical? Explain
What will be an ideal response?
Because private firms cannot make money pricing at marginal cost for collective consumption goods, government must produce collective consumption goods for them to exist
a. True b. False
The voting paradox is an example of the
A. Tiebout hypothesis. B. impossibility theorem. C. the Coase theorem. D. free-rider problem.