The principle of horizontal equity is satisfied when _____
a. individuals receiving the same benefits end up paying the same in taxes
b. the public interest is being met
c. all individuals pay the same tax
d. individuals with an equal ability to pay end up paying the same in taxes
d
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If Fast Prints has a contract with local couriers to deliver their products to customers located throughout the city, this is an example of ________.
A) outsourcing B) a market transaction C) forward integration D) backward integration
Slick Shades has a constant marginal cost of production equal to $40 and the distributors have a constant marginal cost of distribution equal to $20. If Slick Shades vertically integrates with the perfectly competitive distributors, the profit-maximizing quantity will be ________ the profit-maximizing quantity if they did not vertically integrate and the combined firm will earn ________ profit if
they did not vertically integrate.
The figure above shows the wholesale demand and marginal revenue curves for Slick Shades Sunglasses, a sunglasses firm with market power. Slick Shades Sunglasses has a constant marginal cost of production and it sells to perfectly competitive independent retail distributors that have a constant marginal cost of distribution.
A) the same as; greater
B) greater than; the same
C) greater than; greater
D) the same as; the same
U.S. households wishing to purchase shares of stock in a European company are ________ the foreign exchange market.
A. suppliers of U.S. dollars in B. supplied Euros by the Fed for use in C. suppliers of Euros in D. demanders of U.S. dollars in
Which of the following characterizes a competitive market?
A. A downward-sloping demand curve for the firm. B. Some of the firms sell at a price above the market equilibrium price. C. A vertical demand curve facing each firm in the market. D. A downward-sloping demand curve for the market.