To determine who bears the greater share of a tax, we compare the
A) number of buyers to the number of sellers.
B) elasticity of supply to the elasticity of demand.
C) size of the tax to the price of the good.
D) government tax revenue to the revenue collected by the suppliers.
E) pre-tax quantity to the post-tax quantity.
B
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An example of the principal-agent problem is when
A) managers try to cope with employees that are inefficient. B) proprietors don't receive any money payment for their entrepreneurial skills. C) managers devise penalties that eliminate employee waste. D) managers devise incentives that encourage employees to act in the owner's behalf.
Which of the following events must result in a lower price in the market for Snickers?
a. Demand for Snickers increases, and supply of Snickers decreases. b. Demand for Snickers and supply of Snickers both decrease. c. Demand for Snickers decreases, and supply of Snickers increases. d. Demand for Snickers and supply of Snickers both increase