Use the figure below to answer the following question.
What is the amount of consumer surplus after the government imposes the excise tax on the market?
A. $8
B. $40
C. $20
D. $32
Answer: D
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What will be an ideal response?
First-past-the-post voting entails:
A. one vote with many options, and the option that gets to 51% wins. B. one vote with many options, and the option with the most votes wins. C. voters ranking all available options and the option most approved of wins. D. a series of votes with two options; the winner of the first vote is paired with another option until all options have been voted on in pairs and there is one winner.
In order to maximize profit, a firm that produces its output in two plants will produce the level of total output at which the last unit of output produced adds the same amount to total revenue as to the
A. second plant's total cost. B. first plant's total cost. C. firm's total cost D. both a and b
What is a normal rate of return?
What will be an ideal response?