In the United States, sole proprietorship profits are taxed at the business level and then are taxed again as personal income in the form of dividend payments
Indicate whether the statement is true or false
FALSE
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A monopolistically competitive firm will end up selling its output for a price such that its
A) price is greater than marginal cost. B) price is equal to marginal cost. C) price is equal to marginal revenue. D) price is equal to average total cost.
A production indifference curve is sometimes called “isoquants” since the term implies equal quantities of output.
Answer the following statement true (T) or false (F)
When marginal cost is greater than average total cost,
A. average fixed cost must be increasing with output. B. marginal cost must be increasing with output. C. average total cost must be increasing with output. D. average variable cost must be decreasing with output.
Which is the most accurate statement?
A. Although no one theory can explain all poverty in the U.S., welfare dependency probably explains most of it. B. Poverty can be explained mainly by the laziness of the poor. C. There is no theory of poverty that really explains much. D. There are many theories of poverty, and while none can explain all poverty, each does explain some of it.