Author Question: A Texas oil woman would like to increase the oil produced from her oil fields. Since it takes over a ... (Read 46 times)

mckennatimberlake · **on:** Jun 30, 2018

A Texas oil woman would like to increase the oil produced from her oil fields. Since it takes over a year to drill new wells, she opts instead for increasing labor and other variable inputs to produce more oil from existing wells. She is making a short-run production decision.
a. True
b. False
Indicate whether the statement is true or false

Question 2

If the tax rate increases with an increase in income, the income tax structure is said to be _____.
a. proportional
b. regressive
c. progressive
d. lump-sum
e. negatively skewed