Since 1942, the number of school districts in the United States has declined by almost _____ districts

What do we mean when we state that a particular principal-agent payment scheme is inefficient?

A) The principal and agent could find another agreement that would increase the sum of the owner's revenue and the worker's payment. B) The agreement involves the highest level of effort for the worker. C) The agreement leads to the lowest level of revenue for the owner. D) The sum of the income taxes paid by the owner and the worker is too high.

The graphs below illustrate the market for a product on which an excise tax has been imposed by government. Refer to the below graph. What was the price of the product before the tax was imposed, and what is the price with the tax?

A. $8 and $5, respectively

B. $11 and $8, respectively

C. $8 and $11, respectively

D. $5 and $8, respectively