If a tax on a good is doubled, the deadweight loss from the tax
a. stays the same
b. doubles
c. increases by a factor of four
d. could rise or fall
c. increases by a factor of four
Economics
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Assume an economy is operating on its production possibilities curve, which shows the production of military and civilian goods. If the output of military goods is increased, the output of civilian goods:
A) will increase too. B) will not change. C) must decrease. D) may increase or decrease.
Economics
If variable cost at each output level doubles,
a. ATC doubles b. AFC doubles c. MC remains unchanged d. MC doubles e. MC less than doubles
Economics