If a tax on each Snicker's bar is $0.10, that tax is a
a. property tax
b. customs duty
c. progressive tax
d. unit tax
e. sales tax
D
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The marginal benefit of a worker to a firm is the value of the extra output that results when
A) work is outsourced to a foreign country. B) workers get paid for working overtime. C) some workers are laid off and the remaining workers become more productive. D) an additional worker is hired.
Refer to Figure 15-3. Suppose the monopolist represented in the diagram above produces positive output. What is the profit-maximizing/loss-minimizing output level?
A) 630 units B) 800 units C) 850 units D) 880 units
When compared to firms in perfect competition, monopolists tend to charge __________ prices and offer __________ quantities of output
a. lower; lower b. higher; lower c. lower; higher d. higher; higher e. higher; the same
Refer to Figure 17.3. Assume X units of plants and equipment wear out each year. What will happen to the PPC in the future if the economy currently produces at point U?
A. It will shift outward. B. It will shift inward. C. It will stay the same. D. This cannot be determined with the information given.