Author Question: Assume that a firm's total revenue is less than its total cost for the level of output it is ... (Read 150 times)

jayhills49 · **on:** Jun 30, 2018

Assume that a firm's total revenue is less than its total cost for the level of output it is producing. In the short run, this firm should:
a. expand output.
b. contract output.
c. shut down.
d. There is not enough information to answer the question.

Question 2

A proportional tax is a tax whose rate increases as the tax base widens.
a. True
b. False
Indicate whether the statement is true or false