The firm's supply curve is its
A) marginal cost curve, at all points above the minimum average variable cost curve.
B) marginal cost curve, at all points above the minimum average fixed cost curve.
C) marginal cost curve, at all points above the minimum average total cost curve.
D) marginal revenue curve, at all points above the minimum average total cost curve.
A
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Define price discrimination. What factors must be present in order for a firm to price discriminate? Why do firms price discriminate?
What will be an ideal response?
Partial equilibrium is
A. exactly like general equilibrium. B. studying only the supply side of the market. C. studying individual markets. D. examining the demand side of the market.
Lump sum taxes _____
a. are difficult to model theoretically but easy to apply b. have a small excess burden c. have no welfare cost d. require perfectly elastic demand curves
If the government were to impose a tax that assigned everyone the same tax liability, it would be
a. a lump-sum tax. b. an equitable tax. c. supported by the poor. d. a progressive tax.