Refer to the table above. If Tom has a taxable income of $62,000, he faces a marginal tax rate of ________
A) 10%
B) 15%
C) 20%
D) 30%
C
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Answer the following statement(s) true (T) or false (F)
1. The Stackelberg equilibrium of a sequential game must also be a Nash equilibrium. 2. In a sequential game, guaranteed commitment to a strategy will make a player worse off. 3. A merger between Gateway, a manufacturer of computers, and Logitech, a manufacturer of components for computers, would be an example of horizontal integration. 4. The Sherman Act of 1890 and the Clayton Act of 1914 gave courts the power to prevent mergers that reduce competition and provided clear criteria to apply in determining when a merger would do so. 5. Social welfare consequences are ambiguous when two or more manufacturers merge to take advantage of economies of scale.
The Coase Theorem explains how the ________ can come to a socially optimal solution.
A. government B. producers C. citizens D. market
If a firm successfully price discriminates, it increases i. consumer surplus. ii. deadweight loss. iii. economic profit
A) i only B) ii only C) iii only D) i and iii E) i and ii
In Figure 4-5 above, people would be trying to increase their holdings of money at
A) points A and E. B) points B, E, and C. C) point A. D) points A and B. E) point D.