Author Question: Which of the following represents the true economic cost of production when firms produce goods that ... (Read 95 times)

OSWALD

  • Hero Member
  • *****
  • Posts: 580
Which of the following represents the true economic cost of production when firms produce goods that cause negative externalities?
 
  A) the external cost of production B) the explicit cost of production
  C) the social cost of production D) the private cost of production

Question 2

If you discovered that a country had an income tax system whereby the marginal and average tax rates were the same for all income levels what might you conclude is true about the structure of this income tax system.
 
  How is it possible in other words for the marginal and average tax rate to be the same?


Dunkey

  • Sr. Member
  • ****
  • Posts: 333
Answer to Question 1

C

Answer to Question 2

The marginal and average tax rate could be the same if there were only one tax bracket and all income were subject to taxation.



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
 

Did you know?

If you could remove all of your skin, it would weigh up to 5 pounds.

Did you know?

Asthma occurs in one in 11 children and in one in 12 adults. African Americans and Latinos have a higher risk for developing asthma than other groups.

Did you know?

Atropine was named after the Greek goddess Atropos, the oldest and ugliest of the three sisters known as the Fates, who controlled the destiny of men.

Did you know?

During the twentieth century, a variant of the metric system was used in Russia and France in which the base unit of mass was the tonne. Instead of kilograms, this system used millitonnes (mt).

Did you know?

Bacteria have flourished on the earth for over three billion years. They were the first life forms on the planet.

For a complete list of videos, visit our video library