Refer to the above figure. A unit tax has been placed on the good. The producer pays what amount of the tax?
A) none of the tax
B) P2 - P0
C) P2 - P1
D) P1 - P0
D
You might also like to view...
What is the internal rate of return on a new $2,000 heater that would reduce your heating costs by $200 a year forever? Under what conditions would you make the purchase?
What will be an ideal response?
The long-run average cost curve is tangent to the short-run average total cost curve at the minimum point of the short-run average total cost curve when the:
A. firm is experiencing constant returns to scale. B. firm is experiencing economies of scale. C. long-run average cost curve is upward-sloping. D. long-run average cost curve is downward-sloping.
All of the following are likely consequences of inadequate detail in job analysis information except _____.
A. high labor costs B. unhappy employees C. lawsuits D. unhappy customers
China's economic reforms began in
A) 1960. B) 1978. C) 1991. D) 1998.