If a state government wants to collect the maximum tax revenue from a unit excise tax, which of the following would they tax?
A) cigarettes
B) beef hamburgers
C) luxury cars
D) hotdogs
Answer: A
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Refer to Table 2-14. Ireland has a comparative advantage in the production of
A) both products. B) motorcycles. C) guitars. D) neither product.
If a firm’s average cost is currently $100, and the marginal cost is $95, then the average cost is currently falling.
Answer the following statement true (T) or false (F)
The game in the figure shown is a version of:
This figure shows the payoffs involved when Sarah and Joe work on a school project together for a single grade. They both will enjoy a higher grade when more effort is put into the project, but they also get pleasure from goofing off and not working on the project. The payoffs can be thought of as the utility each would get from the effort they individually put forth and the grade they jointly receive.
A. the prisoner's dilemma.
B. the first-mover advantage.
C. a sequential game.
D. a repeated game.
Which of the following pairs of goods would be considered substitutes?
a. Milk and cookies. b. Tires and automobiles. c. Ink and pens. d. Coca-Cola and Pepsi. e. Computers and computer software.