A tax increase is usually borne
A. entirely by the seller.
B. entirely by the buyer.
C. partially by the seller and partially by the buyer.
C. partially by the seller and partially by the buyer.
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Bob values the utility of a single scoop of Baskin-Robbins ice cream at $1.50. A double scoop gives total utility of $2.25, while a triple scoop yields $2.60. Baskin-Robbins charges $1.35 for a single, $1.95 for a double, and $2.35 for a triple. How many scoops will Bob buy?
What will be an ideal response?
A common example of indexing in the United States is: a. annual bonuses to workers
b. wage increases with seniority. c. 30-year fixed-rate mortgage loans. d. escalator clauses tied to the CPI in wage agreements.
In the short run, a firm’s economic loss or profit is found by comparing what?
a. Price to marginal cost b. Price to marginal revenue c. Price to average total cost d. Price to quantity demanded
Insurance policies in which each firm pays a different price for medical insurance depending upon the past medical bills of the firm's employees are based upon a(n):
A. experience rating. B. community rating. C. asymmetric information rating. D. adverse selection rating.