What caused 25,000 workers to be laid off in the boat industry?
a. the 10 percent luxury tax
b. the 5 percent income tax
c. the 15 percent real estate tax
d. the 8 percent gift tax
a. the 10 percent luxury tax
You might also like to view...
Refer to the figure above. What is the absolute value of the arc elasticity of demand when the price falls from $8 to $4?
A) 2 B) 4 C) 8 D) 10
Refer to the above table. If the price is $5, the perfectly competitive firm should produce
A) 104 units. B) 105 units. C) 106 units. D) 107 units.
Total costs: a. Decrease when quantity produced increases
b. Increase when quantity produced increases. c. Sometime increase and sometime decrease when quantity produced increases. d. Can sometimes be constant over a substantial range of output.
Exhibit 8-3 Cost per unit curves
As shown in Exhibit 8-3, the price at which the firm earns zero economic profit in the short-run is:
A. $1.00 per unit. B. $1.50 per unit. C. $2.00 per unit. D. $4.00 per unit.