The big tradeoff between equality and efficiency exists because
A) redistribution uses resources and weakens incentives to work.
B) redistribution uses resources and strengthens incentives to work.
C) redistribution creates additional resources and weakens incentives to work.
D) redistribution creates additional resources and strengthens incentives to work.
A
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The above figure shows supply and demand curves for apartment units in a large city. The area "c" represents
A) the loss in consumer surplus if a rent ceiling of $350 is imposed. B) a transfer from producers to consumers if a rent ceiling of $350 is imposed. C) a transfer from consumers to producers if a rent ceiling of $350 is imposed. D) the total revenue received by supplying Q1 units.
A vertical demand curve has an elasticity of demand equal to zero
a. True b. False Indicate whether the statement is true or false