In the table above, the deadweight loss is zero when ________ umbrellas are produced and sold
A) 20
B) 40
C) 60
D) 80
B
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At the end of the 18th century, approximately _______ percent of the American people earned a major portion of their income by farming
a. 25 b. 50 c. 70 d. 90
If the government wants to raise tax revenue and shift most of the tax burden to the consumers, it would impose a tax on a good with a:
a. flat (elastic) demand curve and a steep (inelastic) supply curve. b. steep (inelastic) demand curve and a flat (elastic) supply curve. c. steep (inelastic) demand curve and steep (inelastic) demand curve. d. flat (elastic) demand curve and a flat (elastic) supply curve.
Stefanie borrows $10,000 from a bank and withdraws $5,000 from her personal savings to start a cupcakery. The interest rate is 5% for both the bank loan and her personal savings. her opportunity cost of capital is $750
a. true b. false
T/F one problem with revenue-based incentive schemes is that they do not generally provide an incentive to maximize profits
What will be an ideal response?