If average variable cost is decreasing as output increases, then marginal cost is definitely
A) decreasing as output increases.
B) increasing as output increases.
C) less than average variable cost.
D) greater than average variable cost.
C
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Employers withhold several taxes from employees ' paychecks, one of which is FICA. Congress requires employers to pay half of the FICA tax and workers to pay the other half
Does this mean that the burden of the FICA tax falls evenly on employers and employees? Briefly explain.
By pursuing growth, some less developed countries have sacrificed other social goals, especially
a. a clean environment b. investment opportunities c. human capital formation d. physical capital formation e. a high long-run standard of living
Some people like blue jeans that fit tightly, and some prefer blue jeans with some give. These preferences for small differences in the same kind of product create opportunities for _______________ among the companies that produce them.
a. monopolies b. monopolistic competition c. perfect competition d. price fixing
A tax imposed at every stage of production is a
a. value-added tax. b. lump sum tax. c. corrective tax. d. regressive tax.