Assume that a firm's total revenue is less than its total cost ...

[jayhills49]

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

[leahchrapun]

Answer to Question 1

d

Answer to Question 2

False

[jayhills49]

Thanks for the timely response, appreciate it

[lindahyatt42]

Excellent