What is an efficient tax system? What rules promote efficiency?
What will be an ideal response?
An efficient tax system obtains more revenue for its efforts than otherwise by making evasion difficult. Broad-based, simple tax systems with moderate rates make for greater efficiency.
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One example of a microeconomic question is, "How will prices in the clothing industry change if the government bans imports from China?"
Indicate whether the statement is true or false
Refer to the table below. If this market is a Cournot Oligopoly and Firm X is produces 50 units, what is Firm Y's demand at a price of $60?
The table above shows the market demand for a product that both Firm X and Firm Y manufacture. Both firms produce an identical product and the firms' average total and marginal cost are equal and constant.
A) 150 B) 100 C) 200 D) 50