Assuming a simultaneous reduction in income taxes and transfer payments of $50 billion, then aggregate disposable income will
a. be higher than before.
b. be lower than before.
c. remain constant.
d. None of the above
C
Economics
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The above figure shows Dana's marginal benefit curve for ice cream. If the price of ice cream is $2 per gallon, then the gallon that gives Dana exactly zero consumer surplus is
A) the 8th gallon. B) the 12th gallon. C) the 16th gallon. D) the 20th gallon.
Economics
"If the price of a ticket to Sea World exceeds the marginal cost of the ticket by $13, a producer surplus exists for Sea World." Is this statement true or false?
What will be an ideal response?
Economics