Suppliers with a high supply elasticity will bear a ________ tax incidence, while suppliers with a low supply elasticity will bear a ________ tax incidence
A) lower; higher
B) higher; lower
C) lower or no; higher or full
D) A and C
D
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The elasticity of a demand curve at any point can be ascertained by its steepness.
Answer the following statement true (T) or false (F)
When a firm is experiencing economies of scale, long-run
a. average total cost is minimized. b. average total cost is greater than long-run marginal cost. c. average total cost is less than long-run marginal cost. d. marginal cost is minimized.
As productive capital goods are established in developing nations
A. these countries will experience higher rates of economic growth. B. portfolio investment will be replaced by loans from international aid agencies. C. they will be less likely to engage in international trade. D. developed nations will become less prosperous.
During the expansion phase of the business cycle
A) production increases. B) employment decreases. C) income decreases. D) unemployment increases.