Economists agree that corporations always shift the corporate income tax to consumers by raising product prices.
Answer the following statement true (T) or false (F)
False
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Show that increasing returns to scale can co-exist with diminishing marginal productivity. To do so, provide an example of a production function with IRTS and diminishing marginal returns
What will be an ideal response?
Taxes in the United States as a percentage of GDP are among the highest in the world
a. True b. False Indicate whether the statement is true or false
Suppose you have a choice between receiving a lump-sum payment of $10,000 today or four annual payments of $2,750 (with the first payment today). Of the following, which is the lowest annual interest rate at which you would prefer the lump-sum payment over the four annual payments?
a. 2% b. 5% c. 7% d. 10%
Your firm sells club soda in both grocery stores and convenience stores. You have a budget of $550 for store displays, and must decide how to allocate this budget between grocery stores and convenience stores to maximize the total number of sales. The following table shows the total number of units that can be sold in grocery stores and convenience stores, according to the number of displays in each type of store. Displays in grocery stores cost $150 each and displays in convenience stores cost $100 each. 
Given the above information, to maximize the total number of sales, you should choose
A. 3 grocery store displays and 4 convenience store displays. B. 3 grocery store displays and 3 convenience store displays. C. 1 grocery store display and 4 convenience store displays. D. 3 grocery store displays and 2 convenience store displays.