A tax on a product (assuming there are no externalities) causes a deadweight loss because: some...
A tax on a product (assuming there are no externalities) causes a deadweight loss because:
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some consumer surplus is transferred from buyers to producers. |
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some producer surplus is transferred from producers to consumers. |
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some consumer and producer surplus is transferred to the government. |
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it distorts the incentives of producers and consumers so that the efficient level of output is not produced. The total utility from consuming the first five donuts is: 9, 15, 21, 22, and 21 utils. Marginal utility begins to diminish after consuming the ____ donut.
If the price of good A falls, it will:
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Homework Answers
a) "D"
it distorts the incentives of producers and consumers so that the efficient level of output is not produced.
b) "C"
it decreases after 3rd donut.
c) "D"
Both A and C are correct.
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A tax on a product (assuming there are no externalities) causes
a deadweight loss because:
some...
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37. Efficiency in a market is achieved when cial planner intervenes and sets the quantity of output after evaluating buyers willingness to pay and sellers' costs the sum of producer surplus and consumer surplus is maximized all firms are producing the end at the same low cost per unit. no buyer is willing to pay more than the equilibrium price for any unit of the good. C ( 38. Total surplus...
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