The concept of an efficient tax system and the reason that makes a tax system inefficient.

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Janice is willing to pay $100 for the first pair of shoes, $80 for the second pair, $50 for a third, and $30 for a fourth. If shoes cost $50, Janice will buy _____ pairs of shoes and her total consumer surplus will equal _______.

Answer 1

Question

Chapter 12.2, Problem 2QQ

To determine

The concept of an efficient tax system and the reason that makes a tax system inefficient.

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Janice is willing to pay $100 for the first pair of shoes, $80 for the second pair, $50 for a third, and $30 for a fourth. If shoes cost $50, Janice will buy _____ pairs of shoes and her total consumer surplus will equal _______.

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