If taxes are $2,000 when income is $15,000 and they are $3,000 when income is $19,000, then the marginal tax rate is:
A. 20 percent
B. 25 percent
C. 30 percent
D. 40 percent
B. 25 percent
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Refer to Table 11-2. What is the average product of labor when the orchard employs 5 workers?
A) 270 bushels B) 54 bushels C) 40 bushels D) 8 bushels
A decrease in the market interest rate, other things constant, will result in: a. a rightward shift of the money demand curve
b. a leftward shift of the money demand curve. c. an increase in the slope of the money demand curve. d. a movement up along the money demand curve. e. a movement down along the money demand curve.
If a monopolistically competitive firm decides that its cost and revenue data indicate that it should not shut down, it will end up producing where
a. MR > AVC b. MR > ATC c. MR > MC d. MR = P = ATC = MC e. MR = MC
A firm that decides to make a price cut assumes that marginal profit is negative
a. True b. False Indicate whether the statement is true or false