Average total cost equals
a. change in total costs divided by quantity produced.
b. change in total costs divided by change in quantity produced.
c. (fixed costs + variable costs) divided by quantity produced.
d. (fixed costs + variable costs) divided by change in quantity produced.
c
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Which of the following taxes does NOT lead to a deadweight loss?
A) A proportional income tax B) A lump-sum tax C) A progressive income tax D) A proportional tax on property
The tax with the minimum excess burden of taxation is most desirable from an efficiency standpoint because _____
a. it suggest that people substituted away from the tax by a considerable amount b. it minimizes tax shifting c. it produces the least social cost per dollar of revenue raised d. it will raise the most revenue for government