The total benefits to society from pollution abatement

A) increase at an increasing rate with the increase of pollution abatement.
B) increase at a decreasing rate with the increase of pollution abatement.
C) decrease at an increasing rate with the increase of pollution abatement.
D) decrease at a decreasing rate with the increase of pollution abatement.

B

Economics

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When a 2 percent increase in price generates a greater than 2 percent decrease in quantity demanded, then:

a. demand is price inelastic. b. total revenue increases. c. demand is positively sloped. d. demand is unit elastic. e. total revenue decreases.

Economics

An excise tax is a tax that is levied on

A) the value of a piece of property. B) the purchase of a given good or service. C) the value of an estate. D) that part of a person's income coming from interest payments.

Economics