Refer to the figure. Which of the following is true?
A. At a price of $8, there would be excess demand for pizza.
B. At a price of $5, there would be neither excess demand for nor excess supply of pizza.
C. At a price of $10, there would be neither excess demand for nor excess supply of pizza.
D. At a price of $0.50, there would be excess supply of pizza.
Answer: B
Economics
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Suppose that Hawaii legalizes casino gambling. By imposing a tax on casino revenues, the state government is able to eliminate the state income tax on wages. What is likely to be the effect on the labor supply curve in Hawaii?
What will be an ideal response?
Economics
A complete accounting of the costs of the tax system would not include _____
a. compliance costs b. legislative costs c. administrative costs d. political costs
Economics