The Laffer curve relates
a. the tax rate to tax revenue raised by the tax.
b. the tax rate to the deadweight loss of the tax.
c. the price elasticity of supply to the deadweight loss of the tax.
d. government welfare payments to the birth rate.
a
Economics
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Markets tend to overallocate resources to the production of a good when
A) there are negative externalities. B) there are positive externalities. C) there are public goods produced. D) equilibrium occurs.
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