Economists See a Useful Service Being Performed by Ticket Scalpers

question 15

Multiple Choice

Economists see a useful service being performed by ticket scalpers, in that they

• A)lower the price to all consumers.
• B)raise the price so promoters get more money.
• C)adjust a price that a promoter has set too low.
• D)adjust a price that a promoter has set too high.

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Definitions:

Federal Income Tax

A tax levied by the federal government on individuals' and businesses' annual earnings, used to fund public services and government obligations.

Marginal Tax Rate

The rate at which the last dollar of income is taxed, indicating the taxation rate for each additional dollar earned.

Federal Income Tax

A tax levied by the U.S. federal government on an individual's or entity's annual income.

Marginal Tax Rate

The rate at which an additional dollar of income would be taxed, representing the tax rate applicable to the highest dollar of an individual's income.