The amount by which the burden of a tax exceeds the total revenue collected is called
A. neutrality.
B. tax incidence.
C. undue burden.
D. excess burden.
Answer: D
Economics
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How is average variable cost calculated? If a firm has total variable costs of $19,200 when producing 575 units, what is the firm's average variable cost?
What will be an ideal response?
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Donald produces nails at a cost of $200 per ton. If he sells the nails for $350 per ton, his producer surplus per ton is
a. $150. b. $200. c. $350. d. $550.
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