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 94 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?

Alzheimer's disease affects only about 10% of people older than 65 years of age. Most forms of decreased mental function and dementia are caused by disuse (letting the mind get lazy).

Did you know?

Approximately one in three babies in the United States is now delivered by cesarean section. The number of cesarean sections in the United States has risen 46% since 1996.

Did you know?

In most cases, kidneys can recover from almost complete loss of function, such as in acute kidney (renal) failure.

Did you know?

Today, nearly 8 out of 10 pregnant women living with HIV (about 1.1 million), receive antiretrovirals.

Did you know?

Once thought to have neurofibromatosis, Joseph Merrick (also known as "the elephant man") is now, in retrospect, thought by clinical experts to have had Proteus syndrome. This endocrine disease causes continued and abnormal growth of the bones, muscles, skin, and so on and can become completely debilitating with severe deformities occurring anywhere on the body.

Aerial photo showing the placement of 24 study plots, each 50 m by 50 m, in the Chihuahuan Desert ne Aerial photo showing the placement of 24 study plots, each 50 m by 50 m, in the Chihuahuan Desert ne
Lynx-hare interactions have served as a model system for the study of the effects o Lynx-hare interactions have served as a model system for the study of the effects o
Processing—Mineral Resources Processing—Mineral Resources
If sociologists were to study land diving on Pentecost Island in Vanuatu, they could use a variety ... If sociologists were to study land diving on Pentecost Island in Vanuatu, they could use a variety ...
Economics question Economics question
Economics question Economics question
Video: SNP Polymorphysim Microarray Chip - How to Test a Person's DNA

For a complete list of videos, visit our video library