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Author Question: The best way to evaluate the effect of a specific tax is _____. a. to consider the tax in ... (Read 44 times)

audragclark

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on: Jul 1, 2018
The best way to evaluate the effect of a specific tax is _____.
 
  a. to consider the tax in isolation
  b. to consider the tax in the context of the entire tax system
  c. to consider whether a tax is progressive, regressive, or proportional
   d. a and c

Question 2

If there are 2 identical firms in a market that choose the quantity they produce, total welfare is the highest when there is a cartel.
 
  Indicate whether the statement is true or false


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marict

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Reply #1 on: Jul 1, 2018
Answer to Question 1

b

Answer to Question 2

False. A cartel acts like a virtual monopoly and thus produces the least output. Output is the greatest if the 2 firms act as a Stackelberg Oligopoly which is therefore preferred.


audragclark

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Reply 2 on: Jul 1, 2018
YES! Correct, THANKS for helping me on my review

peter

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Reply 3 on: Yesterday
Wow, this really help

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