Refer to the above figure. A unit tax has been placed on the good. What is the total amount of the tax?
A) 0
B) P2 - P0
C) P2 - P1
D) P1 - P0
B
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Refer to the table below. Suppose the columns in this table reflect demand and supply. At a price of $30:Price PerUnitColumn A UnitsPer YearColumn B UnitsPer Year$2010040$309550$408060$506570$605080
A. there will be an excess supply of 45 units. B. there will be an excess demand of 45 units. C. the market will be in equilibrium. D. there will be an excess demand of 95 units.
MVA (Market Value Added)
A) will always be a positive number. B) may be a negative number. C) measures the market value of the firm. D) None of the above
Markets help to promote growth by:
A. encouraging self-sufficiency. B. undermining a nation's comparative advantage. C. reducing specialization and the division of labor. D. increasing specialization and the division of labor.
All of the possible combinations of two goods that lie on one indifference curve
A. Are affordable. B. Yield the same level of marginal utility. C. Yield the same level of utility. D. Give the consumer the highest possible utility.