This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: Imposition of an output tax on all firms in a competitive industry will result in A) a downward ... (Read 84 times)

RODY.ELKHALIL

  • Hero Member
  • *****
  • Posts: 591
on: Jul 1, 2018
Imposition of an output tax on all firms in a competitive industry will result in
 
  A) a downward shift in each firm's marginal cost curve.
  B) a downward shift in each firm's average cost curve.
  C) a leftward shift in the market supply curve.
  D) the entry of new firms into the industry.
  E) higher profits for the industry as price rises.

Question 2

A farmer uses M units of machinery and L hours of labor to produce C tons of corn, with the following production function C = L0.5M0.75. This production function exhibits
 
  A) decreasing returns to scale for all output levels
  B) constant returns to scale for all output levels
  C) increasing returns to scale for all output levels
  D) no clear pattern of returns to scale


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

popopong

  • Sr. Member
  • ****
  • Posts: 307
Reply #1 on: Jul 1, 2018
Answer to Question 1

C

Answer to Question 2

C


RODY.ELKHALIL

  • Hero Member
  • *****
  • Posts: 591
Reply #2 on: Jul 1, 2018
Thank you :)


popopong

  • Sr. Member
  • ****
  • Posts: 307
Reply #3 on: Jul 1, 2018
Happy to help you


« previous next »
 

Did you know?

The top 10 most important tips that will help you grow old gracefully include (1) quit smoking, (2) keep your weight down, (3) take supplements, (4) skip a meal each day or fast 1 day per week, (5) get a pet, (6) get medical help for chronic pain, (7) walk regularly, (8) reduce arguments, (9) put live plants in your living space, and (10) do some weight training.

Did you know?

Eating carrots will improve your eyesight. Carrots are high in vitamin A (retinol), which is essential for good vision. It can also be found in milk, cheese, egg yolks, and liver.

Did you know?

The first war in which wide-scale use of anesthetics occurred was the Civil War, and 80% of all wounds were in the extremities.

Did you know?

People often find it difficult to accept the idea that bacteria can be beneficial and improve health. Lactic acid bacteria are good, and when eaten, these bacteria improve health and increase longevity. These bacteria included in foods such as yogurt.

Did you know?

Chronic necrotizing aspergillosis has a slowly progressive process that, unlike invasive aspergillosis, does not spread to other organ systems or the blood vessels. It most often affects middle-aged and elderly individuals, spreading to surrounding tissue in the lungs. The disease often does not respond to conventionally successful treatments, and requires individualized therapies in order to keep it from becoming life-threatening.

Recombinants are meiotic output different from meiotic input Recombinants are meiotic output different from meiotic input
Urine output. Urine output.
Development encompasses both gains and losses. Sometimes a health crisis (loss) can result in a heal Development encompasses both gains and losses. Sometimes a health crisis (loss) can result in a heal
A downward-sloping spark line usually indicates high secondary ignition system resistance or an ... A downward-sloping spark line usually indicates high secondary ignition system resistance or an ...
Competitive enzyme immunoassay. (a) Shows the uninhibited reaction and (b) shows the inhibited ... Competitive enzyme immunoassay. (a) Shows the uninhibited reaction and (b) shows the inhibited ...
Role of Factors of Production in Determining Output per Worker, 2009 Role of Factors of Production in Determining Output per Worker, 2009
Video: Major Elements in Biological Molecules: Proteins

For a complete list of videos, visit our video library