A tax on sellers increases the quantity of the good sold in the market
a. True
b. False
Indicate whether the statement is true or false
False
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The real costs of inflation to society include:
A. an increase in the general level of prices. B. higher relative prices. C. lost purchasing power of income. D. interference with long-term planning.
The marginal propensity to consume (MPC) is the
A) fraction of additional income that is spent. B) fraction of additional consumption that is not based on the level of income. C) ratio of consumption to savings. D) ratio of consumption to income.
In monopolistic competition, profit is maximized by producing so that marginal revenue
A) equals price. B) is negative. C) equals marginal cost and which are less than price. D) equals average total cost but not marginal cost. E) equals marginal cost and equals price.
List and explain the three factors that can increase labor productivity
What will be an ideal response?