« previous next »

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 128 times)

luvbio

  • Hero Member
  • *****
  • Posts: 623
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

  • Sr. Member
  • ****
  • Posts: 315
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.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question

luvbio

  • Hero Member
  • *****
  • Posts: 623
Reply #2 on: Jul 1, 2018
Thank you :)


Hdosisshsbshs

  • Sr. Member
  • ****
  • Posts: 315
Reply #3 on: Jul 1, 2018
Happy to help you


« previous next »
 

Did you know?

Sperm cells are so tiny that 400 to 500 million (400,000,000–500,000,000) of them fit onto 1 tsp.

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?

Drugs are in development that may cure asthma and hay fever once and for all. They target leukotrienes, which are known to cause tightening of the air passages in the lungs and increase mucus productions in nasal passages.

Did you know?

Thyroid conditions cause a higher risk of fibromyalgia and chronic fatigue syndrome.

Did you know?

Your skin wrinkles if you stay in the bathtub a long time because the outermost layer of skin (which consists of dead keratin) swells when it absorbs water. It is tightly attached to the skin below it, so it compensates for the increased area by wrinkling. This happens to the hands and feet because they have the thickest layer of dead keratin cells.

Potential applications of embryonic and tissue specific adult stem cell in cellular and gene theraph Potential applications of embryonic and tissue specific adult stem cell in cellular and gene theraph
How Orbital Eccentricity Changes the Amount of Solar Radiation Earth Receives How Orbital Eccentricity Changes the Amount of Solar Radiation Earth Receives
A specific neuronal mRNA localizes to synapses A specific neuronal mRNA localizes to synapses
Responses Produced by Activation of Specific Opioid Receptors Responses Produced by Activation of Specific Opioid Receptors
An engine in good mechanical condition should produce 17 to 21 inches Hg of vacuum at idle at sea ... An engine in good mechanical condition should produce 17 to 21 inches Hg of vacuum at idle at sea ...
Preload is related to the amount of blood and stretching of the ventricular myocardial fibers Preload is related to the amount of blood and stretching of the ventricular myocardial fibers
Video: What are Taste Receptors? How Does it Work? Animation

For a complete list of videos, visit our video library