Refer to Figure 18-1. Area E + H represents
A) the portion of sales tax revenue borne by consumers.
B) the portion of sales tax revenue borne by producers.
C) the excess burden of the sales tax.
D) sales tax revenue collected by the government.
C
Economics
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The figure above shows the market for annual influenza immunizations the United States. The marginal external benefit associated with immunizing 14 million people is ________ per person per year
A) $40 B) $20 C) $90 D) $30 E) $60
Economics
In the long run in a monopolistic competitive industry,
a. economic profits will be positive. b. price will be driven to zero. c. the firm will not operate where MR = MC. d. economic profit will be zero. e. price will exceed average cost.
Economics