The above figure shows the demand curve for movie rentals from Redbox. If Redbox lowered its price from $4.00 to $3.50, then total revenue would ________ because demand is ________

Why do decision makers tend to ignore external costs? How can internalizing external costs move us closer to efficient levels of output?

The Laffer curve indicates that

a. when tax rates are low, a decrease in tax rates is likely to increase tax revenues. b. when tax rates are high, an increase in tax rates is likely to a decrease in tax revenues. c. tax revenue will always increase when tax rates are increased. d. tax revenue will always decrease when tax rates are lowered.