Horizontal equity in taxation refers to the idea that people
a. in unequal conditions should be treated differently.
b. in equal conditions should pay equal taxes.
c. should be taxed according to their ability to pay.
d. should receive government benefits according to how much they have been taxed.
b
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By threatening to lockout the workers, the firm has
a. Eliminated half of the strategies b. Forced the union to choose the best response in the firm's best interest c. Made it in the union's best interest to not strike d. All of the above
When a monopoly decreases its output and sales, the output effect works to _____ total revenue, and the price effect works to _____ total revenue
Fill in the blank(s) with the appropriate word(s).
Output (Q)Total Fixed CostTotal Variable Cost020012052207320104201552021Table 9.1Table 9.1 shows the cost structure of a firm in a perfectly competitive market. If the market price is $3:
A. the firm suffers a loss and is better off shutting down. B. the firm suffers a loss but is better off producing the output level where MR = MC. C. the market price is greater than the minimum average variable cost. D. None of these
In a market for emission permits, firms that emit over their allowed limits
A) are forced to shut down. B) are taxed by the government for the amount of emissions. C) receive a subsidy for the amount of emissions. D) pay a price of these emissions.