If the average tax rate exceeds the marginal tax rate, the tax would be

The production possibilities frontier illustrates

A) the maximum amount of inputs used to produce a particular output. B) the minimum amount of inputs used to produce a particular output. C) the maximum combination of two goods that can be produced with a given set of resources. D) the minimum combination of two goods that can be produced with a given set of resources. E) none of the above.

The figure shows the market for college education. The efficient number of students is

A) less than 4 million. B) more than 4 million and less than 8 million. C) 4 million. D) 8 million. E) more than 8 million.