The excess burden of a tax refers to the fact that
A) the benefits from a tax exceed the tax revenue.
B) the deadweight loss from a tax exceeds the remaining consumer surplus.
C) marginal cost is greater than marginal benefit after the tax.
D) a tax creates a deadweight loss.
E) taxes are split between buyers and sellers.
D
Economics
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Refer to Figure 7-5. With insurance and a third-party payer system, what price do consumers pay for medical services?
A) $40 B) $55 C) $65 D) > $65
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Government loans are more efficient than production subsidies if a young industry faces financial markets that are unwilling to provide funding to the industry due to the high risk.
Answer the following statement true (T) or false (F)
Economics