1. What happens to consumer and producer surplus when the sale of a good is taxed? How does the change in consumer and producer surplus compare to the tax revenue? Explain.
Ethics/Subject Matter Jurisdiction 12/06/2015 Ethics Teleology: acts are morally right or acceptable if they produce some desired result, such as realization or self-interest or utility. Egoism: Defines right or acceptable actions as those that maximize a particular person’s self-interest as defined by the individual. Utilitarianism: Greatest good for greatest amount of people. Deontology: focuses on the preservation of individual rights and on the intentions associated with a particular behavior rather than on its consequences. ▯ ▯ Jurisdiction Authority to hear a particular issue and make a decision Fede