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Author Question: A tax that is imposed as a specific amount per unit of a good is a(n) A) excise or specific tax. ... (Read 87 times)

luvbio

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on: Jul 1, 2018
A tax that is imposed as a specific amount per unit of a good is a(n)
 
  A) excise or specific tax.
  B) sales or ad valorem tax.
  C) compound duty.
  D) income tax.

Question 2

Market price is 50. The firm's marginal cost curve is given by MC = 10 + 2Q.
 
  a. Find the profit-maximizing output for the firm.
  b. At this output, is the firm making a profit? Explain your answer.


Hdosisshsbshs

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Reply #1 on: Jul 1, 2018
Answer to Question 1

A

Answer to Question 2

a. 50 = 10 + 2Q
Q = 20
b. It is impossible to say without further information. We know that at a quantity of 20, the firm will maximize profit or minimize loss, but without information on total costs, we cannot tell if there is a profit or loss.


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luvbio

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Reply #2 on: Jul 1, 2018
Thank you :)


Hdosisshsbshs

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Reply #3 on: Jul 1, 2018
Happy to help you


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