If You Are Willing to Pay No More Than $4

question 49

Multiple Choice

If you are willing to pay no more than $4 for a slice of pizza and the price of a slice of pizza is $4,then

• A) if you buy it, you would be cheated because you would realize no total benefit from the purchase.
• B) you buy it but you get no marginal benefit from the purchase.
• C) you will not buy it.
• D) you buy it but you get no consumer surplus from the purchase.
• E) you might buy it depending on how the slice's marginal benefit compares to its price.

Determine the incidence of taxation and how it is divided between consumers and producers.

Identify the shift in supply and demand curves due to taxation.

Evaluate the effects of taxes on market equilibrium, including changes in quantity and price.

Understand the rationale behind government-imposed excise taxes.

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Definitions:

Title VII

A part of the Civil Rights Act of 1964 that prohibits employment discrimination based on race, color, religion, sex, or national origin.

Conciliation

A method for resolving disputes by having a neutral third party help the conflicting parties reach a voluntary agreement.

Discriminatory Practice

An unfair treatment of individuals or groups based on characteristics such as race, gender, age, or sexual orientation.

EEOC

The Equal Employment Opportunity Commission, a federal agency enforcing laws against workplace discrimination.