In a competitive market when there is no deadweight loss,
A) consumer surplus is minimized.
B) producer surplus is minimized.
C) consumer surplus plus producer surplus is maximized.
D) consumer surplus plus producer surplus is minimized.
C
Economics
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Refer to the figure above. If the pre-tax equilibrium price of Good X was $3 and the price that consumers need to pay after the imposition of a per-unit tax of $3 is $5, the tax incidence on consumers is approximately ________
A) 50% B) 2% C) 3% D) 67%
Economics
Suppose the market demand curve for pizza can be expressed as QD = 100 - 2P + 3Pb, where QD is the quantity of pizza demanded, P is the price of a pizza, and Pb is the price of a burrito
What is the slope of this demand function, and what information does the slope provide?
Economics