The excess burden of a tax is
a. the amount by which the price of a good increases.
b. the loss of consumer and producer surplus that is not transferred elsewhere.
c. The amount by which a person's after-tax income decreases as a result of the new tax.
d. the welfare costs to firms forced to leave the market due to an inward shift of the demand curve.
Question 2
In the short run, specific taxes on a firm result in
a. price increases that may not persist in the long run.
b. an increase in consumer surplus because the tax permits spending in additional government services.
c. shortages of the good being taxed.
d. an increase in producer surplus because of the rise in price.
Water amount needed to grow crops
A sod house in North Dakota, 1896. Individual “bricks” of sod were hewn from the ground and stacked
The medical assisting profession offers many settings in which to pursue your career. Good communica
Behavior modification has been useful in raising the amount of social responding by children with ...
Humburger is a good source of niacin , vitamin B6 and pantothenic acid
How many grams of H2 gas can be produced by the reaction of 54.0 grams of Al(s) with an excess ...