Assignment 2 (Due March 18)
1. True or false, explain
a. Often, the tax revenue collected by the government equals the reduced welfare of
buyers and sellers caused by the tax.
b. The deadweight loss of a tax rises even more rapidly than the size of the ta
Practice Questions for the Midterm Exam II (Ch5, 6, 810)
Microeconomics, ECON 2113
Assume perfect competitive markets unless otherwise specified in the question.
1) Which of the following i