A tax on the wages that a firm pays its workers is called
a. an income tax.
b. an excise tax.
c. a consumption tax.
d. a payroll tax.
d
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If the price of motel rooms increases by 10% while the prices of other goods and services increase by 5% on average, the relative price of motel rooms has:
A. decreased by 5%. B. decreased by 10%. C. increased. D. remained constant.
Which of the following statements is CORRECT?
I. The exchange rate is a price. II. The exchange rate is different from other prices because it is NOT determined by supply and demand. A) only I B) only II C) I and II D) neither I nor II
Which of the following is always TRUE in the short run for a perfectly competitive firm that is maximizing economic profits?
A) P = d = MR = MC = AVC B) P = d = MR = MC C) P = d = MR = Q D) MR = MC = Q
In the linear breakeven model, the difference between selling price per unit and variable cost per unit is referred to as:
a. variable margin per unit b. variable cost ratio c. contribution margin per unit d. target margin per unit e. none of the above