The excess burden of a tax is $5,000 and the tax revenue from this tax is $15,000. The total burden of this tax is
A. $3,000.
B. $5,000.
C. $10,000.
D. $20,000.
Answer: D
Economics
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A) Albert Einstein B) Paul Romer C) Friedrich Nietszche D) Sir Isaac Newton
Economics
A firm with a flat demand curve
A) has no brand loyalty. B) has weak brand loyalty. C) has strong brand loyalty. D) isn't really worried about brand loyalty; flat demand curves guarantee zero profit.
Economics