Refer to Figure 9.6. Including the consumers' expected tax ...

[NguyenJ]

Refer to Figure 9.6. Including the consumers' expected tax burden, the total change in welfare from this policy is
 
  A) -6000.
  B) -5250.
  C) -4500.
  D) 4500.
  E) 5250.

Question 2

A learning curve may be expressed as a relationship between the labor per unit (L) and the cumulative number of units produced (N).
 
  Which of the following learning curves exhibits a faster reduction in cost of production due to learning, (1 ) L = 10 + N-1 or (2 ) L = 10 + N-0.5? A) Learning curve (1 )
  B) Learning curve (2 )
  C) Curves (1 ) and (2 ) exhibit the same rate.
  D) We cannot determine the rate of cost reduction without knowing the value of N.

[coreycathey]

Answer to Question 1

B

Answer to Question 2

A