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Author Question: The excess burden of a tax is: a. the amount by which the price of a good increases. b. the loss ... (Read 54 times)

asmith134

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on: Jul 1, 2018
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 to the government.
  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

Appendix: Winning an auction can be exhilarating, but it can also lead to doubt as to whether you did the right thing or not. This is called:
 a. The regret effect.
  b. Moral hazard.
  c. Second wind.
  d. The winner's curse.


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GCabra

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

b

Answer to Question 2

d


asmith134

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Reply 2 on: Jul 1, 2018
Wow, this really help

mammy1697

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

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