In short-run competitive equilibrium, which of the following is always true?
a. Profit equals zero.
b. Profit can be negative, zero, or positive.
c. Profit can be zero or positive, but not negative.
d. Profit is positive, otherwise firms would not produce.
Question 2
If the federal government placed a 50 cent per pack excise tax on cigarette manufacturers, and if as a result, the price to consumers of a pack of cigarettes went up by 40 cents, the:
a. actual burden of this tax falls mostly on consumers.
b. actual burden of this tax falls mostly on manufacturers.
c. actual burden of the tax would be shared equally by producers and consumers.
d. tax would clearly be a progressive tax.
The characteristically small and relatively short-legged reindeer from Svalbard
A true albino squirrel. Note the pink eyes.
Children with Down syndrome have a small head, short, thick neck, flattened face, and a distinctive ...
Project Management: Achieving Competitive Advantage, 5th Edition
What is the value of the equilibrium constant, K, at 25°C for the reaction?