I would really appreciate if you are sure about the answers rather than guessing
ID: 1246220 • Letter: I
Question
I would really appreciate if you are sure about the answers rather than guessing, please. Thank you. 1. Total consumer surplus is measured as the area: A. between the demand curve and the supply curve. B. above the demand curve. C. between the vertical axis, the demand curve and a horizontal line through the market price. D. between the demand curve and the horizontal axis. 2. Cigarette taxes cause dead-weight loss because? A. Because they are regressive. B. Because they are progressive. C. Because they change people's behavior. D. Because they yield no revenue. 7. Taxes: A. cause market shortages. B. cause the equilibrium quantity to increase. C. create a wedge between the price consumers pay and the price suppliers receive. D. cause the price consumers pay to equal the price suppliers receive. 9. Those with more inelastic demands will bear a larger burden of a tax because they: A. have more buying power. B. have more income. C. will switch to other products with a tax. D. have fewer substitutes for that good.Explanation / Answer
1) A. between the demand curve and the supply curve. (sure with this one) 2) not sure 7 C. create a wedge between the price consumers pay and the price suppliers receive. 8) not sure with this one also