According to the ability-to-pay principle of taxation
A) people in the same economic situation should bear an equal share of the tax burden.
B) individuals who are willing to bear a greater share of the tax burden should be compensated with non-monetary benefits.
C) it is fair to expect a greater share of the tax burden to be borne by people who have a greater ability to pay.
D) individuals who receive the benefit of a good or service should bear a greater share of the tax burden.
Question 2
When plasma television sets were first introduced prices were high and few firms were in the market. Later, economic profits attracted new firms and the price of plasma televisions fell. This example illustrates
A) that consumers receive this new technology free of charge in the sense that they only have to pay a price for plasma televisions equal to the lowest production cost.
B) a decreasing-cost industry.
C) an industry with a low minimum efficient scale.
D) how fickle consumer demands are.
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