In the long run, a factory is usually considered a fixed input

Suppose the government taxes the wealthy at a higher rate than it taxes the poor and then develops programs to redistribute the tax revenue from the wealthy to the poor. This redistribution of wealth

a. is more efficient and more equal for society. b. is more efficient but less equal for society. c. is more equal but less efficient for society. d. is less equal and less efficient for society.

Consider the market for portable air conditioners in equilibrium. When a heat wave strikes the equilibrium price

a. and quantity both decrease. b. and quantity both increase. c. increases, and the equilibrium quantity decreases. d. decreases, and the equilibrium quantity increases.