Lecture+08+quiz - slide# 4 Quiz Question 3: The difference...

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Econ 100A, fall2010, lecture 8 slide# 2 Quiz Question 1: The top graph shows an indifference curve for gasoline versus dollars of other goods. What does the bottom graph show: A. Marginal willingness to pay curve. B. Marginal MRS curve. C. Compensated budget curve. D. Marginal expenditure curve. Econ 100A, fall2010, lecture 8 slide# 3 Quiz Question 2: This graph shows a marginal willingness to pay curve for gasoline. For a consumer at point A, what is the consumer surplus? A. p. B. The blue-shaded region marked I. C. The green-shaed region marked II. D. The entire shaded region, I+II. I II
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Econ 100A, fall2010, lecture 8
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Unformatted text preview: slide# 4 Quiz Question 3: The difference between the amount of money an individual would be willing to pay, as a bribe, to avoid being taxed, and the amount they actually pay in taxes is called what? A. Tax burden. B. Tax overburden C. Deadweight loss. D. Marginal avoidance cost. Econ 100A, fall2010, lecture 8 slide# 5 Quiz Question 4: What causes the MWTP curve and the uncompensated demand curve to be different, as in the lower panel of this graph? A. Taxes. B. The substitution effect. C. The income effect. D. Quasilinear preferences....
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This note was uploaded on 02/07/2011 for the course ECON 100A taught by Professor Woroch during the Fall '08 term at University of California, Berkeley.

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Lecture+08+quiz - slide# 4 Quiz Question 3: The difference...

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