Which of the following statements are related to Pigouvian tax? 1. buyers in the market would face the higher price, while sellers would receive the lower price with the difference between the two prices representing the payment per unit in government imposed taxes. 2. the government can achieve the maximum social surplus by setting the per-unit tax on output equal to this marginal social damage of pollution 3. The tax then removes the distortion and causes the market to "internalize the externality." 4. A tax is intended to reduce market output to its efficient quantity because of the presence of a negative production externality O 2& 4 choices O 1&2 choices O all of the given choices O 3 & 4 choices

Which of the following statements are related to Pigouvian tax? 1. buyers in the market would face the higher price, while sellers would receive the lower price with the difference between the two prices representing the payment per unit in government imposed taxes. 2. the government can achieve the maximum social surplus by setting the per-unit tax on output equal to this marginal social damage of pollution 3. The tax then removes the distortion and causes the market to "internalize the externality." 4. A tax is intended to reduce market output to its efficient quantity because of the presence of a negative production externality O 2& 4 choices O 1&2 choices O all of the given choices O 3 & 4 choices

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Comparative Advantage and Absolute Advantage Analysis

The theory of absolute advantage was given by Adam Smith in the year 1776.

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