Which of the following will cause the marginal cost curve of making cigarettes to shift?
A) a $5 million penalty charged to each cigarette maker
B) a $1 per pack tax on cigarettes
C) a $1 million advertising campaign by the American Cancer Society
D) All of the above.
B
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If a firm has increasing returns to scale at all levels of output, then the
A. marginal cost for the firm declines over the entire range of output. B. average cost for the firm declines over the entire range of output. C. fixed costs of operation diminish to zero. D. production technology is optimized.
The assignment rule says that, with fixed exchange rates, fiscal policy should be used to stabilize the balance of payments and monetary policy should be used to stabilize the domestic economy.
Answer the following statement true (T) or false (F)
How do profit incentives and property rights affect the management of a renewable resource such as a forest? Why do some nations have growing or sustainable forests and other nations experience deforestation?
What will be an ideal response?
Which of the following will, unambiguously, decrease the price level?
A. an increase in government spending and a decrease in costs B. an increase in government spending and an increase in costs C. a decrease in government spending and an increase in costs D. a decrease in government spending and a decrease in costs