Which of the following formulas is most representative of a negative income tax proposal?
a. Taxes Owed = (1/4 of Income) $2
b. Taxes Owed = (1/2 of Income) 3/4
c. Taxes Owed = (1/2 of Income) + $10,000
d. Taxes Owed = (1/3 of Income) - $10,000
d
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Refer to Figure 8.1 above. The total fixed costs for Cyndy's Floral Arrangements are $1,000. If Cyndy's Floral Arrangements produces 200 silk flower arrangements, the average fixed costs are A) $.20. B) $5. C) $20. D) $200.
Use the above table. The autonomous consumption in this table is
A. $140. B. $20. C. $50. D. $0.
Refer to the table shown that depicts a third-party payer market. What is the quantity demanded if a $1 co-pay is established?PriceQuantity DemandedQuantity Supplied$01,2000$1600150$2300300$30450$40600$50750$60900$701,050
A. 300 B. 0 C. 900 D. 600
If price is $5, marginal cost is $5, average total cost is $3, and the quantity produced is 150 units, then the perfectly competitive firm is
A) not maximizing economic profit. B) earning $2 in economic profits and is maximizing economic profits. C) earning $150 in economic profits and is not maximizing economic profits. D) earning $300 in economic profits and is maximizing economic profits.