A hot dog vendor on a street corner could increase the quantity of hot dogs her customers demand by 12 percent if she lowers the price of a hot dog 10 percent. The demand for the hot dogs is

Which of the following are counterarguments to the viewpoint that taxes are social tools by which we can achieve a more equal society?

a. Redistribution of income through government is unfair coercion of those with higher incomes. b. Inequality is frequently the result of higher productivity and thus is just. c. Equality of income occurs naturally over the life cycle so redistribution at one point in time disrupts this natural process. d. a and b e. a and c

An increase in the marginal factor cost of labor will

A) lead to an increase in the quantity demanded of labor. B) induce a firm to hire fewer workers. C) lead to an increase in the value of an additional worker. D) cause the value of the marginal product of labor to increase.