Refer to Scenario 10.2. Suppose that a tax of $5 for each unit produced is imposed by state government. What is the profit maximizing level of output?
A) 0
B) 90
C) 95
D) 100
E) none of the above
B
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According to Malthus, if the standard of living is above subsistence:
A) couples have more children. B) consumption is more than savings. C) couples have fewer children. D) savings is more than consumption.
Total revenues increase as output increases along sections of the demand curve that are:
A. downward sloping. B. price elastic. C. price inelastic. D. upward sloping.
If a decrease in the price of movie tickets increases the total revenue of movie theaters, this is evidence that demand is:
a. price elastic. b. perfectly inelastic. c. unit elastic with respect to price. d. price inelastic.
(1)(2)(3)(4)(5)QdQdPriceQsQs5040$1070806050960708060850609070740501008063040Refer to the above table. In relation to column (3), a change from column (2) to column (1) would indicate a(n):
A. decrease in demand. B. increase in supply. C. decrease in supply. D. increase in demand.