In monopolistic competition there is an under-allocation of resources at the profit-maximizing level of output, which means that:

Explain the difference between a regressive tax and a progressive tax

What will be an ideal response?

Mandy saved her allowance to buy a 12 pack of cream soda. When Mandy's brother saw the soda, he took four. Sodas were allocated between Mandy and her brother through

A) force. B) majority rule. C) first-come, first-served. D) sharing equally. E) personal characteristics.