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Virginia Tech EC 201 EC201 Chapter 4 Assignment Sheet 1)If all points on the production possibilities curve are efficient, why are not all points on the curve optimal? How does the smoking ban law in bars and restaurants play into this concept? What might be a reason for government excise taxing of cigarettes? What is the primary function of taxation? Do you think product monopolies should be allowed in certain cases? Can you think of an example when a monopoly might be good?
Virginia Tech
EC 201
EC201 Chapter 4 Assignment Sheet
1)If all points on the production possibilities curve are efficient, why are not all points on the curve optimal? How does the smoking ban law in bars and restaurants play into this concept?
- What might be a reason for government excise taxing of cigarettes?
- What is the primary function of taxation?
- Do you think product monopolies should be allowed in certain cases? Can you think of an example when a monopoly might be good?
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