Large firms sometimes have manufacturing and development that take place in multiple states. Should they be subject to taxation in every state in which they do business?
What will be an ideal response?
Generally, the answer here is yes, since state resources and infrastructure were used in the
manufacturing and development process. As the textbook points out, however, these matters
are complicated by factors such as tax exporting and interstate mobility of factors.
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At any moment in time, middle-age people tend to have higher incomes than both younger and older people do
a. True b. False Indicate whether the statement is true or false
Why might asymmetric information contribute to the problem of a market failure?
What will be an ideal response?
If demand is represented as Qd = 20 - 3P and supply is represented as Qs = 4 + 5P, the equilibrium quantity is
A. 2. B. 3. C. 7. D. 14.
Refer to the information provided in Figure 15.1 below to answer the question(s) that follow. Below are cost curves for Dom's Barber Shop, a monopolistically competitive firm. 
Figure 15.1 Refer to Figure 15.1. If Dom's maximizes profits, it ________ of $80.
A. has a total cost B. suffers a loss C. receives a total revenue D. earns a profit