How a supply curve is sloped and located is affected by:

A local restaurant has prepared a new recipe for its lunch menu. Which form of nonprice competition is this?

(A) Physical characteristics (B) Location (C) Image (D) Service level

The deadweight loss of a tax is

a. the reduction in economic welfare of taxpayers that exceeds the revenue raised by the government. b. the improved efficiency created as people reallocate resources according to the tax incentive rather than the true costs and benefits. c. the loss in tax revenues. d. Both a and b are correct.