If the price of labor or some other variable resource decreased, the:
A. AVC curve would shift upward
B. AFC curve would shift downward
C. AFC curve would shift upward
D. MC curve would shift downward
D. MC curve would shift downward
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When a business produces a product that creates external costs
A) the company produces a level of output larger than would be produced without the external cost. B) the company produces a level of output smaller than would be produced without the external cost. C) the company produces a level of output which would be the same as it would produce without the external cost. D) the market provides the efficient level of output even with the existence of the external cost.
College students without verifiable income cannot be issued credit cards.
Indicate whether the statement is true or false
Social Security taxes are paid by
A) employers only. B) employees only. C) both employers and employees. D) neither employers nor employees.
The undesirable effects of bracket creep can be eliminated by indexing marginal tax rates.
Answer the following statement true (T) or false (F)