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Author Question: The tax incidence of a specific tax or ad valorem tax is influenced by A) who pays the tax. B) ... (Read 66 times)

JMatthes

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on: Jul 1, 2018
The tax incidence of a specific tax or ad valorem tax is influenced by
 
  A) who pays the tax.
  B) the amount of the tax.
  C) the price elasticities of supply and demand.
  D) All of the above.

Question 2

In the long run, competitive firms MUST be profit maximizers because if they do not maximize profits,
 
  A) they will not survive.
  B) they will not be price takers.
  C) they will attract entry.
  D) the profits that they do earn will only cover variable costs.
Microeconomics ¦ Perloff ¦ 8th Edition
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Eazy416

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

C

Answer to Question 2

A


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