A franchise is
A) a firm that buys and operates a brand name business in a new market.
B) a branch of a national company.
C) a firm with the legal right to sell a good or service in a particular area.
D) a firm with no competitors.
C
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The tax with the minimum excess burden of taxation is most desirable from an efficiency standpoint because _____
a. it suggest that people substituted away from the tax by a considerable amount b. it minimizes tax shifting c. it produces the least social cost per dollar of revenue raised d. it will raise the most revenue for government
Which two countries ran substantial trade surpluses for most of the last three decades?
a. Germany and Russia b. Russia and Japan c. Germany and Japan d. Germany and Mexico
According to the infant industry argument for import protection, such protection is needed because:
A) foreign workers are often paid less than American workers. B) it enables our protected industries to achieve technological efficiency and thus become competitive with mature foreign industries. C) the nation's national security depends on a strong industrial base. D) it provides consumers with more and better goods in the long run.
Refer to the information provided in Figure 8.4 below to answer the question(s) that follow. 
Figure 8.4 Refer to Figure 8.4. If twelve microwave ovens are produced, Micro Oven's total variable costs are
A. $300. B. $500. C. $800. D. $1,300.