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Author Question: For each level of government (federal, state and local) list the most important source of tax ... (Read 107 times)

gbarreiro

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on: Jul 1, 2018
For each level of government (federal, state and local) list the most important source of tax revenue.
 
  What will be an ideal response?

Question 2

Suppose a monopolist's demand curve is P = 60 - Q, and its cost function is C = 10Q + 50 so its marginal cost is 10.
 
  If a governmental agency wished to set the price so that it created the smallest deadweight loss without causing the monopolist to have negative economic profits (thus shutting down), that price would be A) 10.00.
  B) 11.02.
  C) 14.57.
  D) 35.00.


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Kimmy

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

For the federal government, the most important source of revenue is the income tax. For state governments, the most important source of revenue is general sales taxes. For local governments, the most important source of revenue is the property tax.

Answer to Question 2

B


gbarreiro

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Reply #2 on: Jul 1, 2018
Correct answers!


Kimmy

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Reply #3 on: Jul 1, 2018
Great! Please up vote :D


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