Author Question: The figure above shows that the government revenue from the tariff is A) 20 million per year. B) ... (Read 34 times)

Charlie · **on:** Jun 29, 2018

The figure above shows that the government revenue from the tariff is

A) 20 million per year.
B) 30 million per year.
C) 15 million per year.
D) 55 million per year.
E) zero.

Question 2

When property rights are assigned and transactions costs are low,

A) all costs and benefits are taken into account by the transacting parties so the transaction is efficient.
B) externalities will result in market failure.
C) the marginal social benefit curve shifts leftward and the marginal social cost curve does not shift.
D) the marginal social cost curve shifts rightward and the marginal social benefit curve does not shift.
E) the marginal social cost curve shifts rightward and the marginal social benefit curve also shifts rightward.