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

Author Question: Economics is best defined as the study of how individuals decide to use limited resources in an ... (Read 92 times)

daltonest1984

  • Hero Member
  • *****
  • Posts: 536
on: Jul 1, 2018
Economics is best defined as the study of how individuals decide to use limited resources in an attempt to satisfy unlimited wants.
 a. True
  b. False

Question 2

Return to the market for cigarettes from the previous questions. Suppose the government implements the tax you found in the previous question. But suppose the government is making a mistake. The true demand curve is in fact , and this is not a result of any behavioral bias. Compute the deadweight loss of the government's tax policy.
 a. DWL = 0.
  b. DWL = 500.
  c. DWL = 1,000
  d. DWL = 2,500.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

nikmaaacs

  • Sr. Member
  • ****
  • Posts: 335
Reply #1 on: Jul 1, 2018
Answer to Question 1

A

Answer to Question 2

d


daltonest1984

  • Hero Member
  • *****
  • Posts: 536
Reply #2 on: Jul 1, 2018
Correct answers!


nikmaaacs

  • Sr. Member
  • ****
  • Posts: 335
Reply #3 on: Jul 1, 2018
Great! Please up vote :D


« previous next »
 

Did you know?

Illicit drug use costs the United States approximately $181 billion every year.

Did you know?

Prostaglandins were first isolated from human semen in Sweden in the 1930s. They were so named because the researcher thought that they came from the prostate gland. In fact, prostaglandins exist and are synthesized in almost every cell of the body.

Did you know?

To prove that stomach ulcers were caused by bacteria and not by stress, a researcher consumed an entire laboratory beaker full of bacterial culture. After this, he did indeed develop stomach ulcers, and won the Nobel Prize for his discovery.

Did you know?

The calories found in one piece of cherry cheesecake could light a 60-watt light bulb for 1.5 hours.

Did you know?

For high blood pressure (hypertension), a new class of drug, called a vasopeptidase blocker (inhibitor), has been developed. It decreases blood pressure by simultaneously dilating the peripheral arteries and increasing the body's loss of salt.

Sensitivity study for facial difference Sensitivity study for facial difference
Carons' study Carons' study
The reason why I do not study The reason why I do not study
The karyotype of an XYY male. Affected individuals are usually taller than normal, and some, but not The karyotype of an XYY male. Affected individuals are usually taller than normal, and some, but not
Economics question Economics question
Economics question Economics question
Video: Sister chromatids of a metaphase chromosome animation

For a complete list of videos, visit our video library