Which of the above schedules represent(s) a regressive tax?
a. V only
b. III and V
c. IV only
d. I only
Ans: d. I only
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Suppose a firm uses workers and office space to produce output. The firm is locked into a year-long lease on its office space, but it can easily vary the number of employee-hours it uses each day. The table below describes the relationship between the number of employee-hours the firm uses each day and the firm's daily output. Each unit of output sells for $2, the hourly wage rate is $14, and the rent on the office space is $50 per day.Employee-HoursPer DayOutputPer Day0014048091201516023200When the firm uses 9 employee-hours, its total cost each day is:
A. $126 B. $56 C. $176 D. $64
The opportunity cost of working out for one hour is the value of the next-best activity that you could have done in that hour
a. True b. False Indicate whether the statement is true or false
Why would consumer decrease consumption even if their disposable income has not changed?
What will be an ideal response?
During a football game, it starts to rain and the temperature drops. The senior class, which runs the concession stand and is studying economics, raises the price of coffee from 50 cents to 75 cents a cup. They sell more than ever before. Which answer explains this?
What will be an ideal response?