When costs spill over to third parties, there is a(n)
A) cost overrun.
B) excessive competition.
C) negative externality.
D) government subsidy.
C
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The figure above provides information about Light-U-Up Utilities, which is a natural monopoly that provides electricity. What is the area of deadweight loss when Light-U-Up produces the unregulated, profit-maximizing level of output?
A) abd B) acg C) deg D) There is no deadweight loss.
What has been the main argument over recent efforts to replace the personal income tax with a value-added tax?
What will be an ideal response?
How much do you believe that current tax policy is influenced by politics, as opposed to sound and efficient tax policy?
What will be an ideal response?
If the demand for bicycles increases,
a. the quantity demanded decreases b. equilibrium price increases and equilibrium quantity decreases c. equilibrium price decreases and equilibrium quantity increases d. quantity supplied increases e. quantity supplied decreases