Homework Answers
34. D
(Profit of producers is not an efficiency condition.)
35. B
(At Qb, MC > MB. So, market is inefficient.)
38. C
(Her tax rate was 6% and not 4.74.)
39. D
(Marginal tax rate = Change in tax liability/Change in taxable
income = (3000-1500)/(25,000-15,000) = 1500/10,000 = 0.15 =
15%)
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