A specific tax imposed on a monopolist may increase the price by more than the tax
Indicate whether the statement is true or false
True . The incidence of a tax on a monopolist may be more than 1 (100%).
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Which view of the causes of the Great Depression emphasizes the decline in the money supply which caused aggregate demand for goods and services to shrink, leading businesses to cut production and employment?
(a) The Monetarists' (b) The Keynesians' (c) The Austrians' (d) The International View
Refer to Table 16.1. Which of the following statements is TRUE?
A) Guatemala has an absolute advantage in producing tomatoes. B) Guatemala has an absolute advantage in producing beer. C) Guatemala has a comparative advantage in producing beer. D) Guatemala has a comparative advantage in producing tomatoes. E) all of the above
Which of the following statements is TRUE for a monopolistically competitive firm in the long run?
A) P = ATC > MR B) MC > P > ATC C) P > MC > ATC D) P = MC = MR
A firm which owns its own equipment and is earning positive economic profits a. is likely earning positive accounting profits
b. is likely earning zero accounting profits. c. is likely earning negative accounting profits. d. could be earning positive or negative accounting profits.