Answer to Question #268354 in Microeconomics for Kuzi

Question

The effect of taxes on economic well being is measured comparing the

A. Benefit to buyers with the loss to sellers.

B. Price paid by buyers to the price received by sellers.

C. Profits earned by firms to the losses incurred by consumers.

D. Decrease in total surplus to the increase in revenue raised by the government.

Answer 1

The effect of taxes on economic well being is measured comparing the;

D. Decrease in total surplus to the increase in revenue raised by the government.