A budget line is drawn with automobiles on the vertical axis and boats on the horizontal. Imposing a tax on boats that boosts the price of a boat makes the
A) indifference curves flatter.
B) indifference curves steeper.
C) budget line flatter.
D) budget line steeper.
D
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In the short run, the ratio of the change in total cost and the change in output is greater than the ratio of the change in variable cost and the change in output
a. True b. False Indicate whether the statement is true or false
We expect firms with ________ to sell marketable pollution permits to firms with ________.
A. low abatement costs; high abatement costs B. high abatement costs; low abatement costs C. high price goods; low price goods D. high production capacity; low production capacity
Suppose that a firm is currently producing 500 units of output. At this level of output, AVC is $1 per unit, and TFC is $500. What is the firm's TC?
A) $1,500 B) $1,000 C) $500 D) $501
Point elasticity is a measure of elasticity that uses slope measurement.
Answer the following statement true (T) or false (F)