A 50 percent tax on the profits of a monopolist will
a. be totally shifted to the consumer.
b. raise price and lower quantity.
c. cause no change in profit-maximizing price and quantity.
d. change price but not quantity.
c
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Which of the following is the slope of the production function with respect to an input?
A. The marginal physical product of the input. B. The unit cost of the input. C. The input price. D. The average product of the input.
Scarcity is a temporary state of insufficiency that ends with new innovation
Indicate whether the statement is true or false
Changes in business inventories are counted as part of gross private domestic investment
Indicate whether the statement is true or false
What is the difference in the explanation of the shape of the aggregate demand curve and a single product demand curve? After all, both demand curves show an inverse relationship between price and quantity.
What will be an ideal response?