The perfect competitor can produce as much as it wants or as little as it wants with no effects on market price whatsoever. True False Oligopolies and monopolies attempt reduce output and raise price, thereby incurring overcapacity and waste to society. True False Redistribution of income from wealthier individuals to lower-income individuals by government in the form of higher taxes and progressive tax systems actually tends to lower prosperity because it weakens the link between productive activity and the reward derived from it, encourages resources to flow into wasteful rent-seeking activities, as well as higher tax rates required to finance redistribution result in resources being devoted toward tax avoidance activities. True False Decreasing the percentage tariff price on an imported good will result in greater market share for the foreign producer in the domestic country. True False
The perfect competitor can produce as much as it wants or as little as it wants with no effects on market
True
False
Oligopolies and
True
False
Redistribution of income from wealthier individuals to lower-income individuals by government in the form of higher taxes and progressive tax systems actually tends to lower prosperity because it weakens the link between productive activity and the reward derived from it, encourages resources to flow into wasteful rent-seeking activities, as well as higher tax rates required to finance redistribution result in resources being devoted toward tax avoidance activities.
True
False
Decreasing the percentage tariff price on an imported good will result in greater market share for the foreign producer in the domestic country.
True
False
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