As pizza topped with barbecue chicken became popular at specialty restaurants, Pizza Hut introduced a similar pizza. This imitation illustrates:

When considering changes in tax policy, economists usually focus on

A) people's ability to pay taxes. B) the marginal tax rate. C) the average tax rate. D) people's willingness to pay taxes.

Suppose a victim of an accident brings the injurer to court. You are hired to determine the amount of damages

You are specifically asked to find a measure of the amount of money needed to restore the victim to the position he was in prior to the accident. What welfare measure will provide the most accurate measure of this amount? A) compensating variation B) equivalent variation C) consumer surplus D) the loss of utility