In designing a tax system, policymakers have two objectives that are often conflicting. They are
a. maximizing revenue and minimizing costs to taxpayers.
b. efficiency and minimizing costs to taxpayers.
c. efficiency and equity.
d. maximizing revenue and reducing the national debt.
c
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The battery packs used in electric and hybrid automobiles are one of the largest cost components for manufacturing these cars. As the price of these batteries decline, we expect that the:
A) supply curve for electric and hybrid autos will shift rightward. B) supply curve for electric and hybrid autos will shift leftward. C) demand curve for electric and hybrid autos will shift rightward. D) demand curve for electric and hybrid autos will shift leftward.
A monopolistic ally competitive industry is like a purely competitive industry in that:
A. Each industry produces a standardized product B. Non price competition is a feature in both industries C. Neither industry has significant barriers to entry D. Firms in both industries face a horizontal demand curve