If the government desires to raise a certain amount of revenue by taxing a monopoly, an ad valorem tax will
A) generate the same loss of consumer surplus as a specific tax.
B) generate a greater loss of consumer surplus than a specific tax.
C) generate a smaller loss of consumer surplus than a specific tax.
D) generate no loss of consumer surplus.
C
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Total cost equals total variable cost plus marginal cost
a. True b. False Indicate whether the statement is true or false
The classical model uses the assumption that
A. economic markets are fragile and have no tendency to move towards an equilibrium. B. interest rates are not flexible. C. monopoly is widespread in the economy. D. all wages and prices are flexible.
You have narrowed down your Friday night plans to either going bowling or playing billiards. If you choose to go bowling, then for you playing billiards is the ________ of going bowling.
A. marginal cost B. empirical cost C. variable cost D. opportunity cost
Before the 1970's, the immigrant population in the U.S.:
A. Was more likely to receive public assistance than people born in the United States B. Was less likely to receive public assistance than people born in the United States C. Was just as likely to receive public assistance as people born in the United States D. Did not qualify for public assistance