Which of the following statements does NOT illustrate normative economic thought? a. Monopolies should not be allowed to exist. b. The health system should be nationalized. c. The corporate tax rates should be raised. d. The demand for a normal good will decrease when price increases. e. Government should do more to regulate markets.

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Q: microeconomics

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Welfare Analysis

Welfare analysis of the society is related to welfare economics. From the economic point of view former welfare economics refers to that subject which uses the techniques of microeconomics to analyse and evaluate the welfare at the economic or aggregate level.