The existence of marginal external benefits for a product like higher education creates a deadweight loss for society because, without government intervention, ________ would be consumed and ________ would be produced
A) more than the efficient amount; more than the efficient amount
B) more than the efficient amount; less than the efficient amount
C) less than the efficient amount; more than the efficient amount
D) less than the efficient amount; less than the efficient amount
E) the efficient amount; the efficient amount
D
Economics
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In perfect competition
A) many firms sell slightly different products to many buyers. B) sellers are better informed about the prices than buyers. C) firms face no restrictions on entry into market. D) established firms have advantage over new ones.
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Explain why an increase in the tax rate can result in lower tax revenues
What will be an ideal response?
Economics