If the popular television show The Bachelor is shown on pay-per-view television every Monday at 9pm, then the demand curve for each episode is given below.
If the regulated pay-per-view charge is decreased from $20 to $0 per household, what would be the gain in total economic surplus?
A. $320 million
B. $4,000 million
C. $720 million
D. $1,280 million
Answer: A
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Federal tax loopholes in personal income tax provide benefits only to very high-income people.
Answer the following statement true (T) or false (F)
Flat tax
A. is same tax rate to everyone. B. is same tax rate to each component of income. C. allows a tax base with no deductions with a few exemptions and expenses. D. is same tax rate to everyone and to each component of income only. E. all of these answer options are correct.
In a duopoly if the firms have agreed to jointly maximize profits, then each firm can increase its current individual profits by producing more
a. True b. False Indicate whether the statement is true or false
A competitive firm has been selling its output for $10 per unit and has been maximizing its profit. Then, the price rises to $14, and the firm makes whatever adjustments are necessary to maximize its profit at the now-higher price. Once the firm has adjusted, its
a. marginal revenue is lower than it was previously. b. marginal cost is lower than it was previously. c. quantity of output is higher than it was previously. d. All of the above are correct.