The larger the deadweight loss from taxation, the larger the cost of government programs
a. True
b. False
Indicate whether the statement is true or false
True
Economics
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A 25% decrease in the price of breakfast cereal leads to a 20% increase in the quantity of cereal demanded. As a result: a. total revenue will decrease
b. total revenue will increase. c. total revenue will remain constant. d. the elasticity of demand will increase.
Economics
As we use more and more units of a resource, the MRP
A. rises sharply. B. rises slowly. C. remains the same. D. declines.
Economics