Market failure occurs when a market fails to maximize net social welfare
a. True
b. False
Indicate whether the statement is true or false
True
Economics
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The idea behind a flat tax is to _____
a. cut taxes on high-income taxpayers b. to raise taxes on high-income taxpayers c. increase progressivity d. minimize the excess burden of the income tax
Economics
Assume that coffee and tea are substitutes. When the price of coffee increases:
A. the demand for tea decreases. B. the demand for tea increases. C. the supply of tea increases. D. the supply of tea decreases.
Economics