Define the deadweight loss of a tax
The deadweight loss of a tax is the reduction in economic well-being of taxpayers in excess of the amount of revenue raised by the tax.
Economics
You might also like to view...
In the short run, a perfectly competitive firm will make an economic profit as long as
A) it maximizes its profit. B) P > AVC. C) P > AFC. D) P > ATC.
Economics
Forests in the United States, starting from the time the colonists arrived,
a. have always expanded. b. have only shrunk in size. c. have changed little. d. shrank as they were logged and cleared for farms, then rebounded, especially in the twentieth century.
Economics