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Author Question: While taxing inelastic goods minimizes social costs from taxation, it frequently conflicts with ... (Read 120 times)

viki

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While taxing inelastic goods minimizes social costs from taxation, it frequently conflicts with traditional notions of fairness.
 
  a. True b. False

Question 2

Suppose that for each firm in the competitive market for potatoes, long-run average cost is minimized at 0.20 per pound when 500 pounds are grown. If the long-run supply curve is horizontal, then
 
  A) some firms will enjoy long-run profits because they operate at minimum average cost.
  B) the long-run price will be 0.20 per pound.
  C) each consumer will purchase 100 worth of potatoes.
  D) the long-run price will be set just above 0.20 per pound.



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macagn

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Answer to Question 1

a

Answer to Question 2

B




viki

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Reply 2 on: Jul 1, 2018
YES! Correct, THANKS for helping me on my review


softEldritch

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Reply 3 on: Yesterday
Great answer, keep it coming :)

 

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