If a state government wants to collect the maximum tax revenue from a unit excise tax, which of the following would they tax?
A. one particular smartphone model
B. beef hamburgers
C. luxury cars
D. cigarettes
Answer: D
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An economy has two workers, Paula and Ricardo. Everyday they work, Paula can produce 4 computers or 16 shirts, and Ricardo can produce 6 computers or 12 shirts. What is the opportunity cost for Ricardo to produce one shirt?
A. ¼ computer B. 4 computers C. 2 computers D. ½ computer
In perfect competition in the long-run equilibrium, can consumer surplus or producer surplus be increased? Explain your answer
What will be an ideal response?
If the cross price elasticity of demand between two goods is negative, then the two goods are
A) substitutes. B) complements. C) unrelated. D) independent.
Strategic behavior is the result of an interdependent world
Indicate whether the statement is true or false