Deadweight loss Study guides, Class notes & Summaries

AREC 202 FINAL EXAM QUESTIONS AND ANSWERS 100% VERIFIED Excise Tax - answerTax on sales of a good or service: "per-unit" tax Effects: 1. It raises price paid by buyer 2. Reduces price received by sellers 3. Drives a wedge between the two ** If the producer is taxed, the supply curve will shift upwards by the amount of the tax. ** If the consumer is taxed, the demand curve will shift downwards by the amount of the tax. **It does not matter who is actually paying the tax, the burden is ...

Peck and Hale gear is used most commonly for securing - ANSWER ☑☑automobiles Tonnage tax is officially based upon the figures obtained from the - ANSWER ☑☑Admeasurement Certificate What is the meaning of the term tare weight? - ANSWER ☑☑Weight of a container A long ton is - ANSWER ☑☑2,240 pounds Displacement refers to the - ANSWER ☑☑number of long tons of water displaced by a vessel afloat Stress on the topping lift of a swinging boom can be reduced by. - ...

Alf questions with correct answers 2024 demand the quantity that consumers are willing and able to purchase at various prices reinterpret demand shows buyers max "willingness to pay" for some quantity of output WTP - P* consumer surplus consumer surplus The difference between a buyer's willingness to pay and the price actually paid supply shows the quantity producers are willing and able to sell at various prices reinterpret supply shows sellers minim...

THE rule (and its variations): How is the optimal level of any activity (for consumers, firms or governments) determined? Marginal cost = marginal benefit On the 2x2 efficiency table: What effect on efficiency (total surplus) do government interventions have in a market in which originally the government had not intervened? Market works well - marginal benefit =marginal cost total surplus was maximized, and the government intervenes things will go wrong and vice versa (if it's not broke do...

CFA Level 1 - 101 Must Knows 368 Questions with Verified Answers Addition Rule of Probability - CORRECT ANSWER ADDITION: P(A or B) = P(A) + P(B) - P(AB) Roy's Safety First Criterion - CORRECT ANSWER Safety First Ratio = (E(R) - Rₜ) / σ Larger ratio is better If (Rₜ) is risk free rate, then it becomes Sharpe Ratio Sharpe Ratio - CORRECT ANSWER Sharpe Ratio = (E(R) - RFR) / σ Larger ratio is better If (Rt) is higher than RFR, then it becomes Safety First Ratio Centra...

All of the following are true of allocatively efficient markets except CORRECT ANSWER Consumers place a higher value on that product that it is costing firms to produce What type of efficiency is defined as the mix of goods and services produced that are just what society desires? CORRECT ANSWER Allocative efficiency A perfectly competitive firm in the long run will CORRECT ANSWER Earn normal profits Goods that are consumed together, such as cars and gasoline or peanut butter and jelly ...

World Scholars' Cup Exam Questions and Answers (Graded A)World Scholars' Cup Exam Questions and Answers (Graded A)World Scholars' Cup Exam Questions and Answers (Graded A)World Scholars' Cup Exam Questions and Answers (Graded A) black market - ANSWER-a secret market in which goods are sold illegally supply - ANSWER-a stock of resource from which a person or place can be provided with the necessary amount of that resource demand - ANSWER-Consumer willingness and ability to buy products...

EC385 Midterm Exam Questions With Verified Solutions Variable Ticket Pricing (VTP) - answer•sets ticket prices in line with expected demand for a future game MR is larger for a more attractive game. Dynamic Ticket Pricing (DTP) - answerallows the team to capture additional revenue based on individual game characteristics that are unknown at the start of the season -influences to demand not known before the season open - Scoring streaks Bundling - answer•Teams bundle less attractive t...

A 7 QUESTIONS AND ANSWERS 2024. The theory of public choice A) explains the allocation of a good among free riders. B) is the theory of the consumer marketplace. C) is the theory of the political marketplace. D) explains the allocation of private goods. - CORRECT ANSWER C) A public choice theory of government behavior emphasizes that government acts A) primarily to redistribute wealth from the rich to the poor. B) in the long-run interest of voters. C) as determined by voter...

Test Bank - Brief Principles of Macroeconomics 7th Edition by Gregory Mankiw| All Chapters | Complete Guide A+. Test Bank Brief Principles of Macroeconomics 7th Edition by Gregory Mankiw Multiple Choice – Section 00: Introduction Which of the following is not correct? Economists use some familiar words in specialized ways. Economics has its own language and its own way of thinking, but few other fields of study do. Supply, demand, elasticity, comparative advantage, consumer surplus, an...