Elaine's taxable income increases by $1 and her tax payment increases by $0.28. Her marginal tax rate is
A) 72 percent.
B) 28 percent.
C) 56 percent.
D) There is not enough information to answer the question.
B
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A market structure in which a small number of firms compete is called
A) perfect competition. B) monopolistic competition. C) oligopoly. D) monopoly.
Explain what the four main categories of world economies are and give examples?
What will be an ideal response?
A pollution tax has the effect of reducing the costs of production for a firm, leading to a rightward shift of the supply curve
a. True b. False Indicate whether the statement is true or false
Which of the following statements is correct?
A) Average variable costs always exceed average total costs. B) Average fixed costs are constant. C) Average variable cost reaches its minimum when average product equals its maximum. D) Average fixed costs are always less than average variable costs.