Suppose Tyler values a basketball at $20 . Jacqui values a basketball at $16 . The pre-tax price of a basketball $15 . The government imposes a tax of $2 on each basketball, and the price rises to $17 . The deadweight loss from the tax is

The case study of segregated street cars in southern cities illustrates which of the following?

a. Streetcar owners opposed segregation laws primarily because they were concerned with civil rights. b. Segregation laws were supported by both local business owners and patrons. c. Firms usually care more about maximizing profits than discriminating against certain customers. d. Laws passed by the government cannot reduce discrimination.

Politicians often argue that a country's standard of living is reduced when it allows imports into the country. Offer an economically sound counter-argument

What will be an ideal response?