Figure 5-13
In Figure 5-13, the consumer can afford any combination of X and Y represented by a point
a.
on line AB only.
b.
on or below line AB.
c.
on or above line AB.
d.
anywhere on the graph.
b
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The efficient level of public good provision is determined
a. where the market demand curve intersects the marginal cost curve b. where the sum of individual valuations equals the sum of marginal costs c. without regard to economic factors d. where marginal revenue product equals marginal factor cost e. at the minimum point of the average total cost curve
The administrative, enforcement, and compliance costs of collecting taxes in the United States sum to
a. between 1 and 2 percent of the revenues collected. b. between 5 and 6 percent of the revenues collected. c. between 12 and 15 percent of the revenues collected. d. more than half of the revenues collected.