What is the most efficient tax and why?
A lump-sum tax is the most efficient tax because the tax does not distort incentives; thus, a lump-sum tax does not create a deadweight loss.
Economics
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The change in cost that results from a one-unit increase in output is called the
A) average fixed cost. B) per-unit variable cost. C) per-unit total cost. D) marginal cost. E) average cost change.
Economics
“The higher real wages earned by American workers primarily reflect the fact that Americans have a greater inherent ability to produce goods and services than do foreign workers.” Evaluate
What will be an ideal response?
Economics