This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: Which of the following is NOT true about the 3 per pizza tax illustrated in the above figure? A) ... (Read 24 times)

tatyanajohnson

  • Hero Member
  • *****
  • Posts: 569
on: Jun 29, 2018
Which of the following is NOT true about the 3 per pizza tax illustrated in the above figure?
 
  A) It decreases consumer surplus by 90 thousand.
  B) It decreases producer surplus by 45 thousand.
  C) It creates a deadweight loss of 135 thousand.
  D) None of the above because they are all true.

Question 2

If your annual income rose by 10 percent and you increased your purchases of shoes from 2 pairs to 3 pairs each year, then your demand for shoes is
 
  A) income inelastic and equal to 0.50.
  B) income elastic and equal to 1.50.
  C) income inelastic.
  D) income elastic.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

vish98

  • Sr. Member
  • ****
  • Posts: 326
Reply #1 on: Jun 29, 2018
Answer to Question 1

C

Answer to Question 2

D


tatyanajohnson

  • Hero Member
  • *****
  • Posts: 569
Reply #2 on: Jun 29, 2018
Thank you :)


vish98

  • Sr. Member
  • ****
  • Posts: 326
Reply #3 on: Jun 29, 2018
Happy to help you


« previous next »
 

Did you know?

Hippocrates noted that blood separates into four differently colored liquids when removed from the body and examined: a pure red liquid mixed with white liquid material with a yellow-colored froth at the top and a black substance that settles underneath; he named these the four humors (for blood, phlegm, yellow bile, and black bile).

Did you know?

In 2010, opiate painkllers, such as morphine, OxyContin®, and Vicodin®, were tied to almost 60% of drug overdose deaths.

Did you know?

Acetaminophen (Tylenol) in overdose can seriously damage the liver. It should never be taken by people who use alcohol heavily; it can result in severe liver damage and even a condition requiring a liver transplant.

Did you know?

The liver is the only organ that has the ability to regenerate itself after certain types of damage. As much as 25% of the liver can be removed, and it will still regenerate back to its original shape and size. However, the liver cannot regenerate after severe damage caused by alcohol.

Did you know?

Your skin wrinkles if you stay in the bathtub a long time because the outermost layer of skin (which consists of dead keratin) swells when it absorbs water. It is tightly attached to the skin below it, so it compensates for the increased area by wrinkling. This happens to the hands and feet because they have the thickest layer of dead keratin cells.

The segmented body plan of an annelid, as illustrated by an earthworm. The segmented body plan of an annelid, as illustrated by an earthworm.
Which of the following statements is true of linkage? Which of the following statements is true of linkage?
C. Wright Mills (1916-1962) was a controversial figure in sociology because of his analysis of the ... C. Wright Mills (1916-1962) was a controversial figure in sociology because of his analysis of the ...
Mobilize joints of the feet and ankle. Apply scissoring to metatarsals and figure-8s to toes. Dorsi- ... Mobilize joints of the feet and ankle. Apply scissoring to metatarsals and figure-8s to toes. Dorsi- ...
In the figure, a 10.0-m long bar is attached by a frictionless hinge to a wall and held ... In the figure, a 10.0-m long bar is attached by a frictionless hinge to a wall and held ...
Figure 2.15.jpg Figure 2.15.jpg
Video: Cerebral Cortex Animation

For a complete list of videos, visit our video library