Flashcards
AP Microeconomics - Government Intervention in the Economy
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Why would the government want to regulate monopolies?
Why would the government want to regulate monopolies?
To keep prices low for consumers and make monopolies operate efficiently
Where does the government place price ceilings?
Where does the government place price ceilings?
At the socially optimal price (when P=MC)
What are the three types of taxes?
What are the three types of taxes?
Progressive, proportional, and regressive
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