Answer:
understate the impact of a tax for substitutes and overstate the impact for complements.
Explanation:
Partial equillibrum analysis is consideration of only a part of the market to attain equillibrum. It is based on data that has restricted range. For example when the price of one good changes while others are held constant. This does not consider real life scenario that multiple prices are changing.
In this type of analysis there is less emphasis on tax on subsititutes and more for complements. This is because a single product is being considered and compliments share similar demand pattern so they are considered more.
What are the choices? But I would guess bill presentment.
Answer: No you don't that's just weird
Explanation:
That's a 'cartel'. It's illegal in the US. It's also, mean, nasty, and not fair.
Answer:
The correct answer is option C.
Explanation:
The law of diminishing marginal utility means that keeping other things at constant the marginal utility derived from the consumption of a commodity goes on declining with each additional unit of the commodity.
So, the marginal utility from the first unit will be highest, that from second unit will be lesser, that from third even lower and so on.
In the examples given above, Wesly's case is most applicable to this.
So, option C is the correct answer.
